Barracuda Networks Inc (CUDA) Receives Average Recommendation of “Hold” from Analysts

Barracuda Networks Inc (NYSE:CUDA) has been assigned a consensus rating of “Hold” from the twenty ratings firms that are covering the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.25.

A number of research analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. DA Davidson reduced their price objective on Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, April 18th. Robert W. Baird reissued a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, April 18th. Finally, Piper Jaffray Companies reduced their price objective on Barracuda Networks from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th.

In related news, CMO Michael D. Perone sold 53,034 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $24.06, for a total transaction of $1,275,998.04. Following the completion of the transaction, the chief marketing officer now directly owns 3,397,813 shares in the company, valued at approximately $81,751,380.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $23.32, for a total value of $29,150.00. Following the transaction, the chief financial officer now owns 37,453 shares of the company’s stock, valued at $873,403.96. The disclosure for this sale can be found here. Insiders have sold a total of 118,169 shares of company stock valued at $2,815,524 over the last three months. Corporate insiders own 39.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its position in shares of 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 valued at $146,000 after buying an additional 177 shares during the last quarter. Acrospire Investment Management LLC boosted its position in shares of 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 valued at $159,000 after buying an additional 600 shares during the last quarter. US Bancorp DE boosted its position in shares of Barracuda Networks by 170.8% in the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock valued at $191,000 after buying an additional 5,188 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Barracuda Networks during the first quarter valued at about $223,000. Finally, LGL Partners LLC bought a new position in shares of Barracuda Networks during the first quarter valued at about $232,000. Institutional investors and hedge funds own 57.17% of the company’s stock.

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Shares of Barracuda Networks (NYSE:CUDA) opened at 22.43 on Monday. The company’s 50-day moving average is $21.69 and its 200-day moving average is $22.82. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 118.05 and a beta of 3.43. Barracuda Networks has a 12-month low of $13.91 and a 12-month high of $26.69.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, April 17th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barracuda Networks had a negative return on equity of 101.22% and a net margin of 2.95%. The firm had revenue of $89.26 million for the quarter, compared to analyst estimates of $88.39 million. During the same quarter last year, the firm posted $0.15 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Equities research analysts predict that Barracuda Networks will post $0.77 earnings per share for the current year.

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.

12 Month Chart for NYSE:CUDA

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