Barracuda Networks Inc. (CUDA) Upgraded to Strong-Buy at Vetr Inc.
Vetr upgraded shares of Barracuda Networks Inc. (NYSE:CUDA) from a buy rating to a strong-buy rating in a research report report published on Monday. They currently have $26.25 price target on the stock.
A number of other brokerages have also issued reports on CUDA. Zacks Investment Research raised shares of Barracuda Networks from a hold rating to a strong-buy rating and set a $29.00 price target on the stock in a report on Friday, October 14th. Imperial Capital reissued an underweight rating 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 stock a sell rating in a report on Wednesday, October 12th. Rosenblatt Securities reissued a buy rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Thursday, October 13th. Finally, Stephens reissued a neutral rating and issued a $24.00 price target (up previously from $18.00) on shares of Barracuda Networks in a report on Thursday, October 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $25.01.
Shares of Barracuda Networks (NYSE:CUDA) opened at 22.69 on Monday. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The stock’s 50 day moving average is $23.84 and its 200 day moving average is $21.03. The company has a market capitalization of $1.19 billion, a P/E ratio of 174.54 and a beta of 3.62.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $87.90 million for 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 last year, the business earned $0.10 EPS. Equities analysts expect that Barracuda Networks will post $0.69 EPS for the current year.
In related news, Director Gordon Stitt bought 4,000 shares of the stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average price of $20.81 per share, with a total value of $83,240.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael D. Hughes sold 4,468 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $23.33, for a total transaction of $104,238.44. Following the completion of the transaction, the senior vice president now directly owns 113,981 shares in the company, valued at approximately $2,659,176.73. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Alambic Investment Management L.P. bought a new position in Barracuda Networks during the second quarter valued at approximately $319,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Barracuda Networks during the second quarter worth about $179,000. Oxford Asset Management acquired a new stake in Barracuda Networks during the second quarter worth about $679,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Barracuda Networks during the second quarter worth about $6,264,000. Finally, DIAM Co. Ltd. acquired a new stake in Barracuda Networks during the second quarter worth about $208,000. 54.32% 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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