Barracuda Networks Inc. (CUDA) Given New $28.00 Price Target at BTIG Research
Barracuda Networks Inc. (NYSE:CUDA) had its price objective boosted by BTIG Research from $26.00 to $28.00 in a report published on Wednesday morning. The firm currently has a buy rating on the stock.
Other equities research analysts also recently issued research reports about the stock. 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 target price for the company. Zacks Investment Research upgraded shares of Barracuda Networks from a hold rating to a buy rating and set a $21.00 target price for the company in a research note on Friday, July 8th. Vetr downgraded shares of Barracuda Networks from a strong-buy rating to a buy rating and set a $24.75 target price for the company. in a research note on Wednesday, August 24th. Stifel Nicolaus increased their target price on shares of Barracuda Networks from $26.00 to $32.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Morgan Stanley increased their target price on shares of Barracuda Networks from $19.00 to $23.00 and gave the stock an equal weight rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Barracuda Networks has a consensus rating of Hold and an average price target of $23.79.
Barracuda Networks (NYSE:CUDA) traded up 0.389% during midday trading on Wednesday, hitting $25.569. The stock had a trading volume of 474,771 shares. The firm has a market cap of $1.33 billion, a P/E ratio of 639.225 and a beta of 3.61. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69. The stock has a 50-day moving average price of $23.96 and a 200 day moving average price of $19.17.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. The company had revenue of $87.90 million for the quarter. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. On average, equities analysts anticipate 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 firm’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 transaction of $101,150.00. Following the completion of the transaction, the senior vice president now directly owns 114,513 shares of the company’s stock, valued at approximately $2,316,597.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William D. Jenkins, Jr. sold 4,000 shares of the firm’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 transaction of $80,920.00. Following the transaction, the chief executive officer now directly owns 625,934 shares of the company’s stock, valued at $12,662,644.82. The disclosure for this sale can be found here. Insiders own 39.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CUDA. 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 period. 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 period. AHL Partners LLP acquired a new position in shares of Barracuda Networks during the second quarter worth $158,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Barracuda Networks during the second quarter worth $179,000. Finally, Algert Global LLC acquired a new position in shares of Barracuda Networks during the second quarter worth $182,000. 54.20% of the stock is owned by institutional investors and hedge funds.
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.
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