Barracuda Networks Inc (CUDA) Expected to Post Quarterly Sales of $96.27 Million

Wall Street analysts forecast that Barracuda Networks Inc (NYSE:CUDA) will report sales of $96.27 million for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Barracuda Networks’ earnings. The lowest sales estimate is $92.88 million and the highest is $103.75 million. Barracuda Networks posted sales of $89.26 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.9%. The firm is expected to report its next quarterly earnings results on Monday, April 16th.

On average, analysts expect that Barracuda Networks will report full year sales of $96.27 million for the current year, with estimates ranging from $374.61 million to $387.00 million. For the next fiscal year, analysts forecast that the business will post sales of $411.83 million per share, with estimates ranging from $399.40 million to $438.74 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Barracuda Networks.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $94.75 million for the quarter, compared to analyst estimates of $93.85 million. Barracuda Networks had a return on equity of 74.59% and a net margin of 4.09%.

Several research firms have weighed in on CUDA. Zacks Investment Research downgraded Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Imperial Capital lifted 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. ValuEngine raised Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. BTIG Research downgraded Barracuda Networks from a “buy” rating to a “neutral” rating in a research report on Monday, November 27th. Finally, Piper Jaffray Companies downgraded Barracuda Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $28.19.

Barracuda Networks (NYSE CUDA) opened at $27.54 on Tuesday. The firm has a market capitalization of $1,478.00, a PE ratio of 105.92, a price-to-earnings-growth ratio of 7.52 and a beta of 3.07. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $27.95.

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 transaction of $30,538.30. Following the completion of the transaction, the senior vice president now directly owns 155,118 shares of the company’s stock, valued at $3,407,942.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in CUDA. Pinebridge Investments L.P. acquired a new position in shares of Barracuda Networks during the third quarter worth about $121,000. LS Investment Advisors LLC lifted its stake in Barracuda Networks by 264.7% during the fourth quarter. LS Investment Advisors LLC now owns 5,015 shares of the communications equipment provider’s stock worth $138,000 after purchasing an additional 3,640 shares during the last quarter. Legal & General Group Plc lifted its stake in Barracuda Networks by 15.7% during the second 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 last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Barracuda Networks during the third quarter worth approximately $162,000. Finally, Exane Derivatives lifted its stake in Barracuda Networks by 1,004.9% during the third 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 last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.

WARNING: This article was first reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/02/13/barracuda-networks-inc-cuda-expected-to-post-quarterly-sales-of-96-27-million.html.

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.

Get a free copy of the Zacks research report on Barracuda Networks (CUDA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Barracuda Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply