Barracuda Networks Inc. (NYSE:CUDA) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.14-0.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.12. The company issued revenue guidance of $85-87 million, compared to the consensus revenue estimate of $85.42 million.

Barracuda Networks Inc. (NYSE:CUDA) traded down 2.95% during mid-day trading on Tuesday, reaching $23.33. 1,391,728 shares of the company’s stock were exchanged. The company has a 50-day moving average of $23.81 and a 200-day moving average of $19.09. Barracuda Networks Inc. has a 52-week low of $9.44 and a 52-week high of $25.77. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 583.25 and a beta of 3.60.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. Barracuda Networks had a net margin of 0.67% and a negative return on equity of 33.60%. The business earned $87.90 million during the quarter, compared to analyst estimates of $85.27 million. During the same period in the previous year, the business posted $0.10 earnings per share. Barracuda Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Barracuda Networks Inc. will post $0.57 earnings per share for the current year.

Several research analysts have commented on CUDA shares. Pacific Crest raised shares of Barracuda Networks from a sector weight rating to an overweight rating and lifted their price target for the stock from $23.27 to $30.00 in a research note on Tuesday, August 30th. DA Davidson set a $20.00 price target on shares of Barracuda Networks and gave the stock a sell rating in a research note on Tuesday, October 4th. Vetr raised shares of Barracuda Networks from a buy rating to a strong-buy rating and set a $26.50 price target on the stock in a research note on Tuesday, August 30th. Rosenblatt Securities started coverage on shares of Barracuda Networks in a research note on Monday, August 1st. They set a buy rating and a $30.00 price target on the stock. Finally, Imperial Capital reissued an in-line rating and set a $17.00 price target (up from $15.00) on shares of Barracuda Networks in a research note on Tuesday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $21.07.

In related news, SVP Michael D. Hughes sold 4,468 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $25.05, for a total value of $111,923.40. Following the transaction, the senior vice president now owns 113,971 shares in the company, valued at approximately $2,854,973.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gordon Stitt purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was purchased at an average price of $20.81 per share, for a total transaction of $83,240.00. The disclosure for this purchase can be found here. Insiders own 39.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted 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 during the last quarter. BlackRock Advisors LLC boosted 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 during the last quarter. AHL Partners LLP purchased a new position in shares of Barracuda Networks during the second quarter worth about $158,000. Algert Global LLC purchased a new position in shares of Barracuda Networks during the second quarter worth about $182,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Barracuda Networks during the second quarter worth about $183,000. Institutional investors own 54.20% of the company’s stock.

Barracuda Networks Company Profile

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.

5 Day Chart for NYSE:CUDA

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