Barracuda Networks, Inc. (CUDA) Issues Q3 Earnings Guidance

Barracuda Networks, Inc. (NYSE:CUDA) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.17-0.19 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.19. The company issued revenue guidance of $92.5-94.5 million, compared to the consensus revenue estimate of $94.46 million.Barracuda Networks also updated its FY18 guidance to $0.73-0.78 EPS.

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus reiterated a buy rating and set a $32.00 target price on shares of Barracuda Networks in a research note on Tuesday, September 12th. Piper Jaffray Companies reiterated an overweight rating and set a $28.00 target price (down previously from $29.00) on shares of Barracuda Networks in a research note on Wednesday, July 12th. Robert W. Baird reiterated a buy rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Pacific Crest reiterated an overweight rating and set a $30.00 target price on shares of Barracuda Networks in a research note on Wednesday, June 28th. Finally, Rosenblatt Securities reiterated a buy rating and set a $30.00 target price on shares of Barracuda Networks in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $26.59.

Barracuda Networks, Inc. (NYSE:CUDA) opened at 25.74 on Wednesday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 135.47 and a beta of 3.27. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year high of $26.69. The firm’s 50-day moving average price is $24.20 and its 200-day moving average price is $22.91.

Barracuda Networks (NYSE:CUDA) last issued its earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.

In other news, CFO Dustin Driggs sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $22.63, for a total value of $28,287.50. Following the transaction, the chief financial officer now owns 105,471 shares of the company’s stock, valued at $2,386,808.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael D. Perone sold 54,054 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 1,625,793 shares in the company, valued at approximately $39,848,186.43. The disclosure for this sale can be found here. Insiders have sold a total of 2,354,783 shares of company stock worth $57,100,375 in the last three months. Insiders own 13.90% of the company’s stock.

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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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