Vetr upgraded shares of Barracuda Networks, Inc. (NYSE:CUDA) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning. They currently have $27.00 target price on the stock.
Several other brokerages have also issued reports on CUDA. Zacks Investment Research raised Barracuda Networks from a hold rating to a strong-buy rating and set a $29.00 target price for the company in a research report on Friday, October 14th. Imperial Capital set a $20.00 target price on Barracuda Networks and gave the stock a sell rating in a research report on Wednesday, October 12th. DA Davidson set a $22.00 target price on Barracuda Networks and gave the stock a sell rating in a research report on Wednesday, October 12th. Stephens reaffirmed a neutral rating and set a $24.00 target price (up from $18.00) on shares of Barracuda Networks in a research report on Thursday, October 13th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $25.47.
Barracuda Networks (NYSE:CUDA) traded up 3.54% on Tuesday, reaching $24.87. The company’s stock had a trading volume of 2,394,225 shares. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 130.89 and a beta of 3.42. The firm’s 50-day moving average price is $22.65 and its 200-day moving average price is $22.43.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Monday, January 9th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.08. Barracuda Networks had a negative return on equity of 81.52% and a net margin of 2.95%. The company earned $88.80 million during the quarter. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts expect that Barracuda Networks will post $0.77 earnings per share for the current year.
In other news, major shareholder Dean M. Drako sold 120,000 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $22.89, for a total transaction of $2,746,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Stitt purchased 4,000 shares of Barracuda Networks stock in a transaction dated Tuesday, November 8th. The shares were 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. Company insiders own 39.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its position in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock worth $107,000 after buying an additional 4,698 shares during the period. BlackRock Advisors LLC raised its position in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock worth $156,000 after buying an additional 3,900 shares during the period. AHL Partners LLP purchased a new position in Barracuda Networks during the second quarter worth approximately $158,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Barracuda Networks during the second quarter worth approximately $179,000. Finally, Algert Global LLC purchased a new position in Barracuda Networks during the second quarter worth approximately $182,000. Hedge funds and other institutional investors own 54.76% of the company’s stock.
Barracuda Networks Company Profile
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.
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 our FREE daily email newsletter.