Barracuda Networks, Inc. (CUDA) Issues FY18 Earnings Guidance
Barracuda Networks, Inc. (NYSE:CUDA) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $0.73-0.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.75. The company issued revenue guidance of $370-380 million, compared to the consensus revenue estimate of $377.37 million.Barracuda Networks also updated its Q3 guidance to $0.17-0.19 EPS.
Barracuda Networks, Inc. (NYSE CUDA) opened at 25.74 on Wednesday. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year high of $26.69. The firm has a market capitalization of $1.36 billion, a PE ratio of 135.47 and a beta of 3.27. The stock’s 50 day moving average is $24.20 and its 200-day moving average is $22.91.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $94.30 million for the quarter, compared to analyst estimates of $93.32 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. Equities research analysts forecast that Barracuda Networks, Inc. will post $0.76 EPS for the current year.
A number of brokerages have recently commented on CUDA. BidaskClub lowered Barracuda Networks from a sell rating to a strong sell rating in a report on Friday, August 11th. Robert W. Baird reissued a buy rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Rosenblatt Securities reissued a buy rating and set a $30.00 price target on shares of Barracuda Networks in a report on Monday. Needham & Company LLC reissued a buy rating and set a $28.00 price target on shares of Barracuda Networks in a report on Tuesday, September 12th. Finally, BTIG Research reissued a buy rating and set a $30.00 price target on shares of Barracuda Networks in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Barracuda Networks has an average rating of Buy and a consensus price target of $26.59.
In related news, Director Michael D. Perone sold 54,054 shares of Barracuda Networks stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.51, for a total transaction of $1,324,863.54. Following the transaction, the director now directly owns 1,625,793 shares of the company’s stock, valued at $39,848,186.43. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Dustin Driggs sold 5,135 shares of Barracuda Networks stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.85, for a total value of $127,604.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,354,783 shares of company stock worth $57,100,375. 13.90% of the stock is owned by corporate insiders.
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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