Rosenblatt Securities reissued their buy rating on shares of Barracuda Networks, Inc. (NYSE:CUDA) in a research note published on Monday. The firm currently has a $30.00 price objective on the communications equipment provider’s stock.
A number of other brokerages also recently issued reports on CUDA. Stifel Nicolaus reissued a buy rating and issued a $32.00 price objective on shares of Barracuda Networks in a research note on Tuesday, April 18th. Zacks Investment Research downgraded Barracuda Networks from a buy rating to a hold rating in a research note on Thursday, March 2nd. Piper Jaffray Companies reissued an overweight rating and issued a $32.00 price objective on shares of Barracuda Networks in a research note on Monday, March 13th. Vetr raised Barracuda Networks from a buy rating to a strong-buy rating and set a $26.50 price objective on the stock in a research note on Wednesday, March 1st. Finally, TheStreet raised Barracuda Networks from a d rating to a c rating in a research note on Monday, April 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $25.97.
Barracuda Networks (NYSE:CUDA) traded up 1.25% during midday trading on Monday, reaching $22.76. The company had a trading volume of 274,701 shares. The company has a market capitalization of $1.20 billion, a PE ratio of 119.79 and a beta of 3.33. Barracuda Networks has a 12-month low of $13.91 and a 12-month high of $26.69. The stock has a 50-day moving average price of $22.07 and a 200 day moving average price of $22.67.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, April 17th. The communications equipment provider reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The firm had revenue of $89.26 million for the quarter, compared to the consensus estimate of $88.39 million. Barracuda Networks had a negative return on equity of 224.23% and a net margin of 2.90%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. Equities analysts forecast that Barracuda Networks will post $0.77 EPS for the current year.
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In other news, CFO Dustin Driggs sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $23.32, for a total value of $29,150.00. Following the completion of the transaction, the chief financial officer now directly owns 37,453 shares of the company’s stock, valued at $873,403.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Diane Honda sold 2,101 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $23.46, for a total value of $49,289.46. Following the completion of the transaction, the vice president now directly owns 54,896 shares of the company’s stock, valued at $1,287,860.16. The disclosure for this sale can be found here. Insiders have sold a total of 19,254 shares of company stock valued at $424,852 over the last three months. Corporate insiders own 39.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CUDA. State Street Corp raised its position in Barracuda Networks by 3.5% in the fourth quarter. State Street Corp now owns 469,832 shares of the communications equipment provider’s stock valued at $10,068,000 after buying an additional 15,785 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Barracuda Networks by 52.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,032,111 shares of the communications equipment provider’s stock valued at $22,118,000 after buying an additional 353,726 shares in the last quarter. Federated Investors Inc. PA raised its position in Barracuda Networks by 277.3% in the fourth quarter. Federated Investors Inc. PA now owns 24,281 shares of the communications equipment provider’s stock valued at $520,000 after buying an additional 17,846 shares in the last quarter. Trexquant Investment LP acquired a new position in Barracuda Networks during the fourth quarter valued at about $385,000. Finally, Allianz Asset Management AG acquired a new position in Barracuda Networks during the fourth quarter valued at about $1,420,000. 62.81% of the stock is owned by institutional investors.
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.
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