Barracuda Networks Inc. (CUDA) Coverage Initiated at Robert W. Baird
Research analysts at Robert W. Baird began coverage on shares of Barracuda Networks Inc. (NYSE:CUDA) in a research report issued on Monday. The firm set an “outperform” rating and a $29.00 price target on the stock. Robert W. Baird’s price target suggests a potential upside of 19.49% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on CUDA. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Thursday, October 13th. DA Davidson set a $22.00 price target on shares of Barracuda Networks and gave the company a “sell” rating in a report on Wednesday, October 12th. Imperial Capital set a $20.00 price target on shares of Barracuda Networks and gave the company a “sell” rating in a report on Wednesday, October 12th. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a report on Friday, October 14th. Finally, Vetr cut shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 price target for the company. in a report on Monday, September 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $24.98.
Barracuda Networks (NYSE:CUDA) traded down 1.28% on Monday, hitting $23.96. The stock had a trading volume of 13,407 shares. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69. The company’s 50-day moving average is $24.11 and its 200-day moving average is $20.43. The stock has a market cap of $1.25 billion, a P/E ratio of 184.31 and a beta of 3.62.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. The business had revenue of $87.90 million for the quarter. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that Barracuda Networks will post $0.69 earnings per share for the current fiscal year.
In other Barracuda Networks news, SVP Michael D. Hughes sold 4,468 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $23.33, for a total value of $104,238.44. Following the transaction, the senior vice president now directly owns 113,981 shares of the company’s stock, valued at $2,659,176.73. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gordon Stitt acquired 4,000 shares of Barracuda Networks stock in a transaction on Tuesday, November 8th. The stock was acquired at an average cost of $20.81 per share, for a total transaction of $83,240.00. The disclosure for this purchase can be found here. Insiders own 39.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. acquired a new position in shares of Barracuda Networks during the first quarter worth about $2,512,000. A.R.T. Advisors LLC boosted its position in shares of 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. Jana Partners LLC acquired a new position in shares of Barracuda Networks during the first quarter worth about $1,540,000. Okumus Fund Management Ltd. acquired a new position in shares of Barracuda Networks during the first quarter worth about $68,773,000. Finally, Hamilton Lane Advisors LLC acquired a new position in shares of Barracuda Networks during the second quarter worth about $849,000. 55.42% of the stock is currently owned by hedge funds and other institutional investors.
Barracuda Networks Company Profile
Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.
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