Barracuda Networks’ (CUDA) Buy Rating Reaffirmed at Rosenblatt Securities

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.

COPYRIGHT VIOLATION WARNING: This article was originally reported by sleekmoney and is the sole property of of sleekmoney. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://sleekmoney.com/barracuda-networks-cuda-buy-rating-reaffirmed-at-rosenblatt-securities/1944113.html.

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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/barracuda-networks-cuda-buy-rating-reaffirmed-at-rosenblatt-securities/1944113.html

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.

 

Leave a Reply

Your email address will not be published. Required fields are marked *