Analysts Set Barracuda Networks, Inc. (CUDA) Price Target at $26.46
Shares of Barracuda Networks, Inc. (NYSE:CUDA) have received an average rating of “Buy” from the twenty analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.46.
A number of equities analysts recently commented on the company. Northland Securities reissued a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a research note on Friday, June 30th. BTIG Research restated a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Saturday, July 22nd. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a research report on Wednesday, July 19th. Piper Jaffray Companies restated an “overweight” rating and set a $28.00 price objective (down from $29.00) on shares of Barracuda Networks in a research report on Wednesday, July 12th. Finally, Imperial Capital upped their price objective on Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a research report on Wednesday, July 12th.
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Shares of Barracuda Networks (NYSE CUDA) traded down 0.387% during trading on Friday, hitting $24.445. The company had a trading volume of 262,173 shares. The stock has a market capitalization of $1.29 billion, a P/E ratio of 128.658 and a beta of 3.28. The firm’s 50 day moving average is $23.48 and its 200-day moving average is $22.72. Barracuda Networks has a 52 week low of $19.06 and a 52 week high of $26.69.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company had revenue of $94.18 million during the quarter, compared to analyst estimates of $91.18 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Barracuda Networks will post $0.76 EPS for the current fiscal year.
In other Barracuda Networks news, VP Diane Honda sold 7,026 shares of the firm’s stock in a transaction on Saturday, July 1st. The stock was sold at an average price of $22.89, for a total transaction of $160,825.14. Following the transaction, the vice president now directly owns 100,085 shares in the company, valued at approximately $2,290,945.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $22.85, for a total value of $28,562.50. Following the transaction, the chief financial officer now owns 104,221 shares in the company, valued at $2,381,449.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,002,228 shares of company stock worth $48,450,427. Company insiders own 13.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in Barracuda Networks by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after purchasing an additional 717 shares during the period. Advisors Asset Management Inc. purchased a new position in Barracuda Networks during the 2nd quarter worth $113,000. Legal & General Group Plc increased its holdings in Barracuda Networks by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 828 shares during the period. Asset Management One Co. Ltd. increased its holdings in Barracuda Networks by 2.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 177 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Barracuda Networks by 17.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after purchasing an additional 1,104 shares during the period. Institutional investors own 65.96% 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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