BTIG Research reiterated their buy rating on shares of Barracuda Networks, Inc. (NYSE:CUDA) in a report issued on Thursday, July 13th. They currently have a $30.00 price target on the communications equipment provider’s stock.

CUDA has been the subject of a number of other research reports. Stifel Nicolaus restated a buy rating and set a $32.00 target price on shares of Barracuda Networks in a research report on Tuesday, April 18th. Zacks Investment Research lowered shares of Barracuda Networks from a hold rating to a sell rating in a research report on Thursday, April 20th. Pacific Crest reiterated an overweight rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Wednesday, June 28th. Rosenblatt Securities reiterated a buy rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Monday, June 26th. Finally, TheStreet upgraded shares of Barracuda Networks from a d rating to a c rating in a research report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Barracuda Networks has a consensus rating of Buy and a consensus price target of $26.59.

Shares of Barracuda Networks (NYSE:CUDA) traded up 0.66% on Thursday, hitting $22.86. 241,111 shares of the stock traded hands. The firm has a market cap of $1.21 billion, a P/E ratio of 120.32 and a beta of 3.30. Barracuda Networks has a 52 week low of $19.06 and a 52 week high of $26.69. The stock has a 50-day moving average price of $22.89 and a 200 day moving average price of $22.73.

Barracuda Networks (NYSE:CUDA) last issued its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The firm had revenue of $94.18 million during the quarter, compared to analyst estimates of $91.18 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. Barracuda Networks’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Barracuda Networks will post $0.76 EPS for the current fiscal year.

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In other news, Director Michael D. Perone sold 403,060 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $24.13, for a total value of $9,725,837.80. Following the sale, the director now directly owns 3,112,640 shares in the company, valued at approximately $75,108,003.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Jenkins, Jr. sold 80,612 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $24.02, for a total transaction of $1,936,300.24. Following the completion of the sale, the chief executive officer now owns 621,108 shares in the company, valued at $14,919,014.16. The disclosure for this sale can be found here. Insiders have sold a total of 501,766 shares of company stock worth $12,073,560 in the last three months. Insiders own 13.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Barracuda Networks by 2.5% in the second quarter. American Century Companies Inc. now owns 294,076 shares of the communications equipment provider’s stock worth $6,781,000 after buying an additional 7,108 shares during the period. Victory Capital Management Inc. boosted its stake in Barracuda Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 717 shares during the period. Virginia Retirement Systems ET AL bought a new stake in Barracuda Networks during the second quarter worth approximately $710,000. Frontier Capital Management Co. LLC bought a new stake in Barracuda Networks during the second quarter worth approximately $9,125,000. Finally, Legal & General Group Plc boosted its stake in Barracuda Networks by 15.7% in the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 828 shares during the period. Institutional investors own 63.70% of the company’s stock.

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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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