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.

COPYRIGHT VIOLATION NOTICE: This piece was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/10/11/barracuda-networks-inc-cuda-issues-fy18-earnings-guidance.html.

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.

Receive News & Stock Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related stocks with our FREE daily email newsletter.