Barracuda Networks, Inc. (NYSE:CUDA) released its quarterly earnings results on Monday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.08. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. The firm had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.60 million. During the same quarter last year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis.
Shares of Barracuda Networks (NYSE:CUDA) traded up 4.35% during midday trading on Monday, hitting $23.77. The company had a trading volume of 1,878,201 shares. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 182.85 and a beta of 3.43. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69. The company’s 50-day moving average price is $22.66 and its 200 day moving average price is $22.21.
In other Barracuda Networks news, major shareholder Dean M. Drako sold 160,000 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $21.67, for a total value of $3,467,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gordon Stitt acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was purchased at an average price of $20.81 per share, with a total value of $83,240.00. The disclosure for this purchase can be found here. 39.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of CUDA. BlackRock Fund Advisors raised its stake in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock valued at $8,562,000 after buying an additional 330,942 shares during the period. State Street Corp raised its stake in Barracuda Networks by 223.6% in the second quarter. State Street Corp now owns 410,761 shares of the company’s stock valued at $6,219,000 after buying an additional 283,843 shares during the period. Morgan Stanley raised its stake in Barracuda Networks by 264.3% in the third quarter. Morgan Stanley now owns 362,243 shares of the company’s stock valued at $9,230,000 after buying an additional 262,809 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Barracuda Networks by 4,341.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 182,100 shares of the company’s stock valued at $4,639,000 after buying an additional 178,000 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in Barracuda Networks by 218.9% in the second quarter. Panagora Asset Management Inc. now owns 244,802 shares of the company’s stock valued at $3,706,000 after buying an additional 168,047 shares during the period. Hedge funds and other institutional investors own 54.76% of the company’s stock.
A number of analysts recently issued reports on CUDA shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Thursday, October 13th. DA Davidson reaffirmed an “underperform” rating and issued a $22.00 target price on shares of Barracuda Networks in a research report on Saturday. Robert W. Baird reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Barracuda Networks in a research report on Wednesday, November 30th. Imperial Capital set a $20.00 target price on Barracuda Networks and gave the company a “sell” rating in a research report on Wednesday, October 12th. Finally, Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research report on Friday, October 14th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.96.
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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