Brokerages forecast that Barracuda Networks, Inc. (NYSE:CUDA) will report $0.18 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Barracuda Networks’ earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.19. Barracuda Networks reported earnings of $0.21 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 14.3%. The business is expected to issue its next earnings report on Tuesday, October 10th.

On average, analysts expect that Barracuda Networks will report full year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.79. For the next year, analysts expect that the company will post earnings of $0.87 per share, with EPS estimates ranging from $0.76 to $0.92. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Barracuda Networks.

Barracuda Networks (NYSE:CUDA) last posted its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The company had revenue of $94.18 million for the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. Barracuda Networks’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share.

A number of equities analysts have issued reports on CUDA shares. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Thursday, July 13th. Pacific Crest reaffirmed an “overweight” rating and set a $30.00 price target on shares of Barracuda Networks in a research note on Wednesday, June 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research note on Monday, June 26th. BidaskClub lowered Barracuda Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $26.59.

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Shares of Barracuda Networks (NYSE:CUDA) opened at 24.21 on Friday. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $26.69. The firm’s 50-day moving average price is $23.18 and its 200-day moving average price is $22.70. The stock has a market capitalization of $1.28 billion, a P/E ratio of 127.42 and a beta of 3.30.

In other news, Director Michael D. Perone sold 52,787 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.02, for a total value of $1,267,943.74. Following the completion of the sale, the director now owns 2,988,898 shares in the company, valued at $71,793,329.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Jenkins, Jr. sold 80,612 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $24.02, for a total value of $1,936,300.24. Following the completion of the sale, the chief executive officer now owns 621,108 shares of the company’s stock, valued at approximately $14,919,014.16. The disclosure for this sale can be found here. Insiders sold 891,060 shares of company stock valued at $21,434,884 in the last 90 days. Corporate insiders own 13.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised 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 last quarter. Advisors Asset Management Inc. acquired a new stake in Barracuda Networks during the second quarter worth about $113,000. Legal & General Group Plc raised 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 last quarter. Asset Management One Co. Ltd. raised its stake in Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its stake in Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 600 shares during the last quarter. Institutional investors own 65.98% of the company’s stock.

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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