Equities Analysts Issue Forecasts for Barracuda Networks Inc’s Q4 2018 Earnings (CUDA)

Barracuda Networks Inc (NYSE:CUDA) – Stock analysts at Imperial Capital decreased their Q4 2018 EPS estimates for Barracuda Networks in a research report issued to clients and investors on Wednesday. Imperial Capital analyst M. Kim now expects that the communications equipment provider will post earnings of $0.09 per share for the quarter, down from their prior forecast of $0.11. Imperial Capital has a “line” rating and a $27.55 price target on the stock.

Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, January 8th. The communications equipment provider reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Barracuda Networks had a net margin of 4.09% and a return on equity of 74.59%.

Other equities analysts have also issued research reports about the stock. BTIG Research lowered shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a research report on Monday, November 27th. Needham & Company LLC lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Robert W. Baird restated a “buy” rating and set a $29.00 price objective on shares of Barracuda Networks in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Finally, BidaskClub lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Saturday, November 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.19.

Barracuda Networks (CUDA) remained flat at $$27.50 during trading hours on Monday. 968,987 shares of the stock traded hands, compared to its average volume of 1,226,560. Barracuda Networks has a fifty-two week low of $19.06 and a fifty-two week high of $27.95. The company has a market cap of $1,470.00, a P/E ratio of 98.21, a price-to-earnings-growth ratio of 7.27 and a beta of 3.28.

In other Barracuda Networks news, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.10, for a total value of $28,875.00. Following the completion of the transaction, the chief financial officer now directly owns 102,905 shares in the company, valued at $2,377,105.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael D. Hughes sold 1,390 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $21.97, for a total transaction of $30,538.30. Following the completion of the transaction, the senior vice president now owns 155,118 shares of the company’s stock, valued at $3,407,942.46. The disclosure for this sale can be found here. Company insiders own 13.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in shares of Barracuda Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 717 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Barracuda Networks in the third quarter worth about $121,000. Legal & General Group Plc boosted its holdings in shares of Barracuda Networks by 15.7% in the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 828 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Barracuda Networks in the third quarter worth about $162,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Barracuda Networks by 17.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after buying an additional 1,104 shares during the period. Institutional investors own 75.69% of the company’s stock.

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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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