Shares of Barracuda Networks Inc. (NYSE:CUDA) have been assigned a consensus recommendation of “Buy” from the twenty analysts that are covering the firm. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.22.

Several analysts have recently commented on CUDA shares. Rosenblatt Securities initiated coverage on Barracuda Networks in a report on Monday, August 1st. They set a “buy” rating and a $30.00 price objective for the company. Vetr lowered Barracuda Networks from a “hold” rating to a “sell” rating and set a $21.50 target price for the company. in a research note on Monday, August 1st. DA Davidson lowered Barracuda Networks from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $17.00 to $19.50 in a research note on Friday, August 12th. They noted that the move was a valuation call. Pacific Crest upgraded Barracuda Networks from a “sector weight” rating to an “overweight” rating and raised their target price for the stock from $23.27 to $30.00 in a research note on Tuesday, August 30th. Finally, Zacks Investment Research lowered Barracuda Networks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 7th.

Barracuda Networks (NYSE:CUDA) opened at 24.08 on Monday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 185.23 and a beta of 3.62. 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 $24.02 and a 200 day moving average price of $20.62.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, beating the 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 firm earned $87.90 million during the quarter. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts predict that Barracuda Networks will post $0.69 EPS 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 approximately $2,659,176.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Dean M. Drako sold 146,232 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $22.01, for a total transaction of $3,218,566.32. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock worth $585,000 after buying an additional 271 shares during the period. California State Teachers Retirement System raised its stake in Barracuda Networks by 0.9% in the third quarter. California State Teachers Retirement System now owns 46,551 shares of the company’s stock valued at $1,186,000 after buying an additional 400 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Barracuda Networks by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 84,041 shares of the company’s stock valued at $2,142,000 after buying an additional 2,596 shares during the last quarter. BlackRock Advisors LLC raised its stake in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock valued at $156,000 after buying an additional 3,900 shares during the last quarter. Finally, US Bancorp DE raised its stake in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock valued at $107,000 after buying an additional 4,698 shares during the last quarter. 55.42% of the stock is currently owned by institutional investors and hedge funds.

About Barracuda Networks

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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