Barracuda Networks Inc (NYSE:CUDA) has been given a consensus recommendation of “Hold” by the eighteen ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $27.58.
A number of equities research analysts recently commented on CUDA shares. JPMorgan Chase & Co. cut shares of Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 price objective on the stock. in a research note on Tuesday, December 12th. Stephens cut shares of Barracuda Networks from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. Needham & Company LLC cut shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. ValuEngine raised shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Monday, November 27th. Finally, Zacks Investment Research raised shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th.
Barracuda Networks (NYSE CUDA) remained flat at $$27.54 during trading hours on Tuesday. The company’s stock had a trading volume of 6,174,200 shares, compared to its average volume of 1,553,386. Barracuda Networks has a 52 week low of $19.06 and a 52 week high of $27.95. The firm has a market capitalization of $1,478.00, a price-to-earnings ratio of 98.36, a PEG ratio of 7.52 and a beta of 3.07.
In other Barracuda Networks news, SVP Michael D. Hughes sold 1,390 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were 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 in the company, valued at approximately $3,407,942.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Barracuda Networks during the 4th quarter worth about $1,656,000. Water Island Capital LLC purchased a new position in shares of Barracuda Networks during the 4th quarter worth about $32,304,000. Geode Capital Management LLC lifted its holdings in shares of Barracuda Networks by 19.4% during the 4th quarter. Geode Capital Management LLC now owns 331,069 shares of the communications equipment provider’s stock worth $9,104,000 after acquiring an additional 53,746 shares during the period. Sand Grove Capital Management LLP purchased a new position in shares of Barracuda Networks during the 4th quarter worth about $35,329,000. Finally, Harvest Management LLC purchased a new position in shares of Barracuda Networks during the 4th quarter worth about $2,361,000. Institutional investors and hedge funds own 75.84% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Barracuda Networks Inc (CUDA) Receives Consensus Recommendation of “Hold” from Analysts” was originally published by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/13/barracuda-networks-inc-cuda-receives-consensus-recommendation-of-hold-from-analysts.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.
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.