Barracuda Networks, Inc. (CUDA) Expected to Post Quarterly Sales of $93.85 Million
Equities research analysts expect Barracuda Networks, Inc. (NYSE:CUDA) to post sales of $93.85 million for the current quarter, Zacks reports. Eight analysts have made estimates for Barracuda Networks’ earnings, with the highest sales estimate coming in at $94.55 million and the lowest estimate coming in at $93.22 million. Barracuda Networks posted sales of $88.81 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 8th.
According to Zacks, analysts expect that Barracuda Networks will report full-year sales of $93.85 million for the current financial year, with estimates ranging from $374.61 million to $379.82 million. For the next fiscal year, analysts forecast that the company will report sales of $405.75 million per share, with estimates ranging from $399.40 million to $415.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Barracuda Networks.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $94.30 million during the quarter, compared to analysts’ expectations of $93.32 million. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS.
In other news, SVP Michael D. Hughes sold 1,390 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $21.97, for a total value of $30,538.30. Following the transaction, the senior vice president now directly owns 155,118 shares of the company’s stock, valued at approximately $3,407,942.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael D. Hughes sold 2,015 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total value of $45,539.00. Following the completion of the transaction, the senior vice president now directly owns 155,033 shares in the company, valued at $3,503,745.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,294,018 shares of company stock worth $56,779,572 over the last ninety days. Company insiders own 13.90% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new stake in Barracuda Networks in the 3rd quarter valued at about $212,000. Cubist Systematic Strategies LLC bought a new stake in Barracuda Networks in the 3rd quarter valued at about $275,000. Segall Bryant & Hamill LLC increased its position in Barracuda Networks by 523.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 197,441 shares of the communications equipment provider’s stock valued at $4,784,000 after buying an additional 165,748 shares in the last quarter. Allianz Asset Management GmbH increased its position in Barracuda Networks by 274.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 247,939 shares of the communications equipment provider’s stock valued at $6,008,000 after buying an additional 181,678 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in Barracuda Networks by 147.8% in the 3rd quarter. Engineers Gate Manager LP now owns 58,701 shares of the communications equipment provider’s stock valued at $1,422,000 after buying an additional 35,014 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors.
Barracuda Networks (NYSE:CUDA) traded up $0.08 during trading on Thursday, reaching $27.54. The company’s stock had a trading volume of 1,362,564 shares, compared to its average volume of 851,664. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $27.75. The company has a market cap of $1,478.39, a price-to-earnings ratio of 88.97, a PEG ratio of 7.36 and a beta of 3.28.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.