Barracuda Networks Inc. (CUDA) Price Target Increased to $15.00 by Analysts at JMP Securities
Barracuda Networks Inc. (NYSE:CUDA) had its price objective increased by JMP Securities from $13.00 to $15.00 in a report released on Wednesday. They currently have a market underperform rating on the stock.
Other research analysts also recently issued research reports about the company. Rosenblatt Securities initiated coverage on Barracuda Networks in a research note on Monday, August 1st. They issued a buy rating and a $30.00 target price for the company. Zacks Investment Research upgraded 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. BTIG Research restated a buy rating and issued a $20.00 target price on shares of Barracuda Networks in a research note on Friday, July 8th. Vetr cut Barracuda Networks from a strong-buy rating to a buy rating and set a $24.75 price target on the stock. in a report on Wednesday, August 24th. Finally, Stifel Nicolaus raised their price target on Barracuda Networks from $26.00 to $32.00 and gave the company a buy rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $23.79.
Shares of Barracuda Networks (NYSE:CUDA) traded up 1.49% during mid-day trading on Wednesday, hitting $25.85. 572,871 shares of the stock were exchanged. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69. The company has a market capitalization of $1.35 billion, a PE ratio of 646.25 and a beta of 3.61. The firm 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 earnings results on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, topping the consensus estimate 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 business earned $87.90 million during the quarter. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Barracuda Networks will post $0.57 earnings per share for the current year.
In other Barracuda Networks news, Director Gordon Stitt purchased 4,000 shares of the firm’s stock in a transaction dated 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Dean M. Drako sold 3,768 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $22.01, for a total value of $82,933.68. The disclosure for this sale can be found here. 39.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Okumus Fund Management Ltd. acquired a new position in Barracuda Networks during the first quarter valued at $68,773,000. Vanguard Group Inc. boosted its position in Barracuda Networks by 3.2% in the second quarter. Vanguard Group Inc. now owns 1,523,258 shares of the company’s stock valued at $23,063,000 after buying an additional 47,118 shares in the last quarter. Primecap Management Co. CA boosted its position in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock valued at $14,091,000 after buying an additional 250,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Barracuda Networks by 32.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 574,917 shares of the company’s stock valued at $8,704,000 after buying an additional 140,555 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock valued at $8,562,000 after buying an additional 330,942 shares in the last quarter. Hedge funds and other institutional investors 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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