Barracuda Networks Inc. (CUDA) Stock Rating Reaffirmed by Rosenblatt Securities
Barracuda Networks Inc. (NYSE:CUDA)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a report released on Thursday. They currently have a $30.00 price objective on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 17.55% from the company’s current price.
Several other equities analysts also recently issued reports on CUDA. Imperial Capital reaffirmed an “in-line” rating and set a $15.00 price target (down previously from $16.00) on shares of Barracuda Networks in a research note on Thursday, June 30th. Summit Research started coverage on shares of Barracuda Networks in a research note on Friday, July 1st. They set a “hold” rating for the company. Summit Redstone reaffirmed a “hold” rating and set a $15.00 price target on shares of Barracuda Networks in a research note on Saturday, July 2nd. DA Davidson reaffirmed a “neutral” rating and set a $15.50 price target on shares of Barracuda Networks in a research note on Wednesday, July 6th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of Barracuda Networks in a research note on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.58.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.52 on Thursday. The company has a market capitalization of $1.33 billion, a PE ratio of 638.00 and a beta of 3.61. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The company has a 50-day moving average of $24.15 and a 200 day moving average of $19.29.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The firm earned $87.90 million during the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. 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 EPS. Analysts predict that Barracuda Networks will post $0.57 earnings per share for the current year.
In related news, Director Jeffry R. Allen sold 6,403 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $20.75, for a total transaction of $132,862.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Hughes sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $22.22, for a total transaction of $111,100.00. Following the transaction, the senior vice president now directly owns 109,513 shares in the company, valued at $2,433,378.86. 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 added to or reduced their stakes in the stock. US Bancorp DE raised its position 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 last quarter. BlackRock Advisors LLC raised its position 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 last quarter. AHL Partners LLP purchased a new position in Barracuda Networks during the second quarter worth $158,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Barracuda Networks during the second quarter worth $179,000. Finally, Algert Global LLC purchased a new position in Barracuda Networks during the second quarter worth $182,000. 54.20% of the stock is currently owned by institutional investors.
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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