Barracuda Networks Inc. (CUDA) PT Set at $20.00 by DA Davidson
Barracuda Networks Inc. (NYSE:CUDA) has been given a $20.00 price target by investment analysts at DA Davidson in a research report issued to clients and investors on Tuesday. The firm currently has a a “sell” rating on the stock. DA Davidson’s price target would indicate a potential downside of 18.86% from the company’s previous close.
Several other equities research analysts have also recently issued reports on CUDA. JMP Securities cut shares of Barracuda Networks from a “market perform” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a research report on Monday, June 6th. Vetr upgraded shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $17.50 price objective on the stock in a research report on Monday, June 6th. Imperial Capital reissued an “in-line” rating and issued a $15.00 target price (down from $16.00) on shares of Barracuda Networks in a report on Thursday, June 30th. Summit Research assumed coverage on shares of Barracuda Networks in a report on Friday, July 1st. They issued a “hold” rating for the company. Finally, Summit Redstone reissued a “hold” rating and issued a $15.00 target price on shares of Barracuda Networks in a report on Saturday, July 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Barracuda Networks currently has an average rating of “Hold” and an average price target of $20.75.
Shares of Barracuda Networks (NYSE:CUDA) traded up 0.872% on Tuesday, reaching $24.865. 247,785 shares of the company’s stock traded hands. The firm has a market cap of $1.30 billion, a P/E ratio of 621.625 and a beta of 3.61. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $25.77. The stock has a 50-day moving average of $23.52 and a 200 day moving average of $18.82.
In other Barracuda Networks news, major shareholder Dean M. Drako sold 146,232 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $22.01, for a total value of $3,218,566.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dean M. Drako sold 3,768 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $22.01, for a total transaction of $82,933.68. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CUDA. US Bancorp DE increased its position in shares of 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 in the last quarter. BlackRock Advisors LLC increased its position in shares of 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 in the last quarter. AHL Partners LLP purchased a new position in shares of Barracuda Networks during the second quarter worth approximately $158,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Barracuda Networks during the second quarter worth approximately $179,000. Finally, Algert Global LLC purchased a new position in shares of Barracuda Networks during the second quarter worth approximately $182,000. Institutional investors and hedge funds own 54.20% of the company’s stock.
About Barracuda Networks
Barracuda Networks, Inc (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats, improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity, and are offered on a subscription basis.
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