Brokerages Set Barracuda Networks Inc. (CUDA) Price Target at $23.10
Shares of Barracuda Networks Inc. (NYSE:CUDA) have been given an average rating of “Hold” by the nineteen analysts that are presently covering the firm. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $24.81.
Several equities research analysts have issued reports on the stock. Vetr cut shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a research note on Monday, September 19th. JMP Securities lifted their target price on shares of Barracuda Networks from $13.00 to $15.00 and gave the stock a “market underperform” rating in a research note on Wednesday. Stifel Nicolaus lifted 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. BWS Financial lifted their target price on shares of Barracuda Networks to $30.00 in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Friday, July 8th.
In other Barracuda Networks news, major shareholder Dean M. Drako sold 93,585 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $22.15, for a total transaction of $2,072,907.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gordon Stitt purchased 4,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were acquired 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. Company insiders own 39.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of CUDA. Prudential Financial Inc. acquired a new stake in shares of Barracuda Networks during the first quarter worth about $2,512,000. Spark Investment Management LLC purchased a new stake in Barracuda Networks during the first quarter worth $1,262,000. Primecap Management Co. CA raised its stake in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock worth $14,091,000 after buying an additional 250,000 shares during the last quarter. Geode Capital Management LLC raised 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 last quarter. Finally, A.R.T. Advisors LLC raised its stake in Barracuda Networks by 18.7% in the first quarter. A.R.T. Advisors LLC now owns 103,890 shares of the company’s stock worth $1,599,000 after buying an additional 16,400 shares during the last quarter. Institutional investors own 54.20% of the company’s stock.
Barracuda Networks (NYSE:CUDA) opened at 25.47 on Monday. Barracuda Networks has a 1-year low of $9.44 and a 1-year high of $26.69. The stock has a market cap of $1.33 billion, a P/E ratio of 636.75 and a beta of 3.61. The company has a 50-day moving average of $23.96 and a 200 day moving average of $19.17.
Barracuda Networks (NYSE:CUDA) last issued its quarterly 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. 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Analysts predict that Barracuda Networks will post $0.57 EPS for the current year.
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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