Barracuda Networks Inc (CUDA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Barracuda Networks Inc (NYSE:CUDA) have earned an average recommendation of “Hold” from the eighteen analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $27.58.

A number of analysts recently commented on the company. Imperial Capital boosted their target price on Barracuda Networks from $22.00 to $27.55 and gave the company a “line” rating in a research report on Wednesday, January 10th. Robert W. Baird lowered Barracuda Networks from an “outperform” rating to a “neutral” rating and set a $28.00 target price for the company. in a research report on Tuesday, January 9th. KeyCorp reaffirmed a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, October 11th. ValuEngine raised Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Finally, BTIG Research lowered Barracuda Networks from a “buy” rating to a “neutral” rating in a research report on Monday, November 27th.

Barracuda Networks (NYSE CUDA) traded up $0.01 during mid-day trading on Friday, hitting $27.55. The stock had a trading volume of 1,180,000 shares, compared to its average volume of 1,290,000. Barracuda Networks has a 1 year low of $19.06 and a 1 year high of $27.95. The company has a market cap of $1,470.00, a price-to-earnings ratio of 98.39, a PEG ratio of 7.27 and a beta of 3.28.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Barracuda Networks had a return on equity of 74.59% and a net margin of 4.09%. research analysts forecast that Barracuda Networks will post 0.32 earnings per share for the current year.

In other news, SVP Michael D. Hughes sold 1,390 shares of the business’s stock in a transaction that occurred on 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 owns 155,118 shares in the company, valued at approximately $3,407,942.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.10, for a total value of $28,875.00. Following the completion of the transaction, the chief financial officer now owns 102,905 shares in the company, valued at approximately $2,377,105.50. The disclosure for this sale can be found here. 13.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CUDA. ETF Managers Group LLC bought a new stake in shares of Barracuda Networks in the 2nd quarter worth approximately $44,968,000. Renaissance Technologies LLC raised its holdings in shares of Barracuda Networks by 35.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock worth $35,473,000 after purchasing an additional 402,605 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Barracuda Networks by 1,011.8% in the 3rd quarter. Principal Financial Group Inc. now owns 333,588 shares of the communications equipment provider’s stock worth $8,083,000 after purchasing an additional 303,583 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Barracuda Networks by 86.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 605,659 shares of the communications equipment provider’s stock worth $14,675,000 after purchasing an additional 280,887 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Barracuda Networks by 157.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 401,622 shares of the communications equipment provider’s stock worth $9,731,000 after purchasing an additional 245,353 shares during the period. Hedge funds and other institutional investors own 75.69% of the company’s stock.

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About Barracuda Networks

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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