Barracuda Networks Inc (NYSE:CUDA) was upgraded by research analysts at TheStreet from a “d” rating to a “c” rating in a research note issued to investors on Monday, April 17th.
CUDA has been the subject of several other research reports. Imperial Capital set a $21.00 price target on shares of Barracuda Networks and gave the company a “sell” rating in a report on Wednesday, January 11th. Rosenblatt Securities set a $30.00 price target on shares of Barracuda Networks and gave the company a “buy” rating in a report on Tuesday, January 10th. Vetr raised shares of Barracuda Networks from a “buy” rating to a “strong-buy” rating and set a $26.50 price target for the company in a report on Wednesday, March 1st. Needham & Company LLC began coverage on shares of Barracuda Networks in a report on Monday, February 6th. They set a “buy” rating and a $28.00 price target for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a research note on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Barracuda Networks presently has an average rating of “Hold” and a consensus price target of $25.85.
Barracuda Networks (NYSE:CUDA) traded up 0.76% during trading on Monday, hitting $22.43. The stock had a trading volume of 1,193,500 shares. Barracuda Networks has a 1-year low of $13.91 and a 1-year high of $26.69. The company has a market capitalization of $1.19 billion, a P/E ratio of 118.05 and a beta of 3.43. The stock’s 50-day moving average price is $21.69 and its 200-day moving average price is $22.82.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Monday, April 17th. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $89.26 million during the quarter, compared to the consensus estimate of $88.39 million. Barracuda Networks had a net margin of 2.95% and a negative return on equity of 101.22%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. Analysts expect that Barracuda Networks will post $0.77 earnings per share for the current year.
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In related news, VP Diane Honda sold 2,101 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $23.46, for a total value of $49,289.46. Following the completion of the sale, the vice president now owns 54,896 shares of the company’s stock, valued at approximately $1,287,860.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael D. Perone sold 50,753 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $24.09, for a total value of $1,222,639.77. Following the completion of the sale, the insider now owns 3,482,842 shares of the company’s stock, valued at $83,901,663.78. The disclosure for this sale can be found here. In the last three months, insiders sold 118,169 shares of company stock valued at $2,815,524. 39.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CUDA. Asset Management One Co. Ltd. raised its position in shares of Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares during the period. Acrospire Investment Management LLC raised its position in shares of Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 600 shares during the period. US Bancorp DE raised its position in shares of Barracuda Networks by 170.8% in the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock worth $191,000 after buying an additional 5,188 shares during the period. Paloma Partners Management Co acquired a new position in shares of Barracuda Networks during the first quarter worth approximately $223,000. Finally, LGL Partners LLC purchased a new position in shares of Barracuda Networks during the first quarter worth approximately $232,000. Institutional investors own 57.17% of the company’s stock.
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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