Barracuda Networks Inc (NYSE:CUDA) had its price target lowered by investment analysts at DA Davidson from $25.00 to $23.00 in a report released on Tuesday, April 18th. The firm currently has a “neutral” rating on the communications equipment provider’s stock. DA Davidson’s price target points to a potential upside of 3.32% from the stock’s current price.
A number of other analysts have also commented on the company. Vetr raised Barracuda Networks from a “buy” rating to a “strong-buy” rating and set a $27.00 target price for the company in a report on Tuesday, January 10th. Robert W. Baird reaffirmed a “buy” rating on shares of Barracuda Networks in a report on Tuesday, April 18th. Piper Jaffray Companies reiterated an “overweight” rating and set a $32.00 target price on shares of Barracuda Networks in a research report on Monday, March 13th. BTIG Research reiterated a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Barracuda Networks in a research report on Tuesday, January 10th. Finally, Imperial Capital reiterated an “underperform” rating and set a $21.00 target price on shares of Barracuda Networks in a research report on Sunday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Barracuda Networks presently has a consensus rating of “Hold” and an average price target of $25.85.
Barracuda Networks (NYSE:CUDA) traded up 0.81% during midday trading on Tuesday, hitting $22.44. The stock had a trading volume of 399,892 shares. Barracuda Networks has a 12 month low of $13.91 and a 12 month high of $26.69. The firm’s 50-day moving average price is $21.71 and its 200 day moving average price is $22.82. The company has a market cap of $1.19 billion, a P/E ratio of 118.11 and a beta of 3.43.
Barracuda Networks (NYSE:CUDA) last posted its earnings results on Monday, April 17th. The communications equipment provider reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $89.26 million during the quarter, compared to analyst estimates of $88.39 million. Barracuda Networks had a negative return on equity of 101.22% and a net margin of 2.95%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, analysts expect that Barracuda Networks will post $0.77 earnings per share for the current fiscal year.
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In related news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $23.32, for a total value of $29,150.00. Following the completion of the sale, the chief financial officer now owns 37,453 shares in the company, valued at $873,403.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Michael D. Perone sold 53,034 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $24.06, for a total value of $1,275,998.04. Following the completion of the sale, the chief marketing officer now owns 3,397,813 shares of the company’s stock, valued at approximately $81,751,380.78. The disclosure for this sale can be found here. Insiders have sold 118,169 shares of company stock worth $2,815,524 over the last three months. 39.60% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Barracuda Networks by 19.0% in the first quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock worth $63,075,000 after buying an additional 436,541 shares in the last quarter. Francisco Partners Management LP acquired a new stake in shares of Barracuda Networks during the fourth quarter valued at approximately $56,797,000. Systematic Financial Management LP acquired a new stake in shares of Barracuda Networks during the first quarter valued at approximately $40,341,000. Penserra Capital Management LLC raised its stake in shares of Barracuda Networks by 7.3% in the first quarter. Penserra Capital Management LLC now owns 1,540,156 shares of the communications equipment provider’s stock valued at $35,593,000 after buying an additional 105,154 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Barracuda Networks by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,263,618 shares of the communications equipment provider’s stock valued at $29,202,000 after buying an additional 231,507 shares in the last quarter. Institutional investors own 57.17% 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.
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