Barracuda Networks Inc. (NYSE:CUDA) has been given a $22.00 price target by equities researchers at DA Davidson in a research report issued on Wednesday. The firm currently has a a “sell” rating on the stock. DA Davidson’s price objective indicates a potential downside of 13.62% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research report on Friday, October 7th. Summit Redstone reaffirmed a “hold” rating and issued a $15.00 price target on shares of Barracuda Networks in a research report on Saturday, July 2nd. Vetr lowered Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 price target on the stock. in a research report on Monday, September 19th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $18.00 price target (up previously from $17.00) on shares of Barracuda Networks in a research report on Sunday, July 10th. Finally, Pacific Crest raised Barracuda Networks from a “sector weight” rating to an “overweight” rating and increased their price target for the company from $23.27 to $30.00 in a research report on Tuesday, August 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.94.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

Shares of Barracuda Networks (NYSE:CUDA) traded up 3.30% during midday trading on Wednesday, reaching $26.31. The company had a trading volume of 1,334,840 shares. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The company’s 50 day moving average price is $23.96 and its 200 day moving average price is $19.17. The stock has a market capitalization of $1.37 billion, a PE ratio of 657.75 and a beta of 3.61.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. The company earned $87.90 million during the quarter. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that Barracuda Networks will post $0.57 earnings per share for the current year.

In related news, major shareholder Dean M. Drako sold 3,768 shares of Barracuda Networks stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $22.01, for a total value of $82,933.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William D. Jenkins, Jr. sold 4,000 shares of Barracuda Networks 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 sale, the chief executive officer now owns 625,934 shares in the company, valued at $12,662,644.82. The disclosure for this sale can be found here. 39.60% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of CUDA. Parametric Portfolio Associates LLC increased its stake in Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock worth $585,000 after buying an additional 271 shares during the period. Geode Capital Management LLC increased its stake in Barracuda Networks by 1.1% in the first quarter. Geode Capital Management LLC now owns 127,648 shares of the company’s stock worth $1,964,000 after buying an additional 1,373 shares during the period. BlackRock Advisors LLC increased its stake 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. US Bancorp DE increased its stake 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. Finally, American International Group Inc. increased its stake in Barracuda Networks by 166.8% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock worth $192,000 after buying an additional 7,922 shares during the period. Hedge funds and other 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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