Shares of Barracuda Networks, Inc. (NYSE:CUDA) have earned an average rating of “Buy” from the eighteen ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $28.12.

A number of brokerages have issued reports on CUDA. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a research report on Wednesday, July 19th. Robert W. Baird reissued a “buy” rating and set a $29.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Barracuda Networks in a research report on Sunday, October 15th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Thursday, July 13th. Finally, Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, July 13th.

Shares of Barracuda Networks (CUDA) traded down $0.26 during trading on Friday, reaching $22.29. 1,569,445 shares of the company’s stock traded hands, compared to its average volume of 1,536,520. The firm has a market capitalization of $1,187.63, a P/E ratio of 71.90, a price-to-earnings-growth ratio of 5.95 and a beta of 3.22.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The firm had revenue of $94.30 million during the quarter, compared to analyst estimates of $93.32 million. During the same period in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. research analysts anticipate that Barracuda Networks will post 0.31 earnings per share for the current fiscal year.

In other news, CEO William D. Jenkins, Jr. sold 16,500 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $24.00, for a total value of $396,000.00. Following the transaction, the chief executive officer now owns 604,608 shares in the company, valued at approximately $14,510,592. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Perone sold 108,258 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $25.77, for a total transaction of $2,789,808.66. Following the completion of the transaction, the director now owns 1,378,038 shares in the company, valued at approximately $35,512,039.26. The disclosure for this sale can be found here. Insiders have sold a total of 3,062,431 shares of company stock worth $75,302,664 in the last 90 days. Company insiders own 13.90% of the company’s stock.

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of Barracuda Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after purchasing an additional 717 shares during the period. Advisors Asset Management Inc. bought a new position in shares of Barracuda Networks in the 2nd quarter worth approximately $113,000. Legal & General Group Plc lifted its stake in shares of Barracuda Networks by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 828 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Barracuda Networks by 17.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after purchasing an additional 1,104 shares during the period. Finally, Exane Derivatives lifted its stake in shares of Barracuda Networks by 1,004.9% in the 3rd quarter. Exane Derivatives now owns 7,624 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 6,934 shares during the period. Hedge funds and other institutional investors own 65.55% of the company’s stock.

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Barracuda Networks Company Profile

Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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