Imperial Capital set a $20.00 price objective on Barracuda Networks Inc. (NYSE:CUDA) in a research note issued to investors on Wednesday morning. The brokerage currently has a a sell rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Barracuda Networks from a hold rating to a strong-buy rating and set a $27.00 target price for the company in a research report on Friday, October 7th. Summit Redstone reiterated a hold rating and set a $15.00 target price on shares of Barracuda Networks in a research report on Saturday, July 2nd. Vetr cut shares of Barracuda Networks from a strong-buy rating to a buy rating and set a $26.50 target price for the company. in a research report on Monday, September 19th. Piper Jaffray Cos. reiterated a neutral rating and set a $18.00 target price (up previously from $17.00) on shares of Barracuda Networks in a research report on Sunday, July 10th. Finally, DA Davidson cut shares of Barracuda Networks from a neutral rating to an underperform rating and increased their target price for the stock from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $23.94.

Barracuda Networks (NYSE:CUDA) traded up 2.79% during mid-day trading on Wednesday, reaching $26.18. 1,367,151 shares of the company traded hands. The stock’s 50-day moving average price is $23.96 and its 200-day moving average price is $19.17. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69. The firm has a market cap of $1.36 billion, a PE ratio of 654.50 and a beta of 3.61.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The company earned $87.90 million during the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 50.65%. Barracuda Networks’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. Analysts forecast that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.

In other news, SVP Michael D. Hughes sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.23, for a total value of $101,150.00. Following the completion of the transaction, the senior vice president now owns 114,513 shares of the company’s stock, valued at $2,316,597.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Jenkins, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $20.23, for a total value of $80,920.00. Following the completion of the transaction, the chief executive officer now directly owns 625,934 shares of the company’s stock, valued at approximately $12,662,644.82. The disclosure for this sale 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 CUDA. Algert Global LLC increased its stake in Barracuda Networks by 242.5% in the third quarter. Algert Global LLC now owns 41,130 shares of the company’s stock worth $1,048,000 after buying an additional 29,122 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Barracuda Networks by 47.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,644 shares of the company’s stock worth $1,146,000 after buying an additional 24,436 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Barracuda Networks during the second quarter worth about $3,356,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Barracuda Networks during the second quarter worth about $250,000. Finally, Numeric Investors LLC purchased a new position in shares of Barracuda Networks during the second quarter worth about $321,000. 54.20% of the stock is owned by institutional investors.

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.

5 Day Chart for NYSE:CUDA

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