Barracuda Networks Inc (CUDA) Forecasted to Post Q4 2018 Earnings of $0.09 Per Share

Barracuda Networks Inc (NYSE:CUDA) – Stock analysts at Imperial Capital lowered their Q4 2018 earnings estimates for Barracuda Networks in a research report issued on Wednesday. Imperial Capital analyst M. Kim now forecasts that the communications equipment provider will post earnings per share of $0.09 for the quarter, down from their previous forecast of $0.11. Imperial Capital has a “line” rating and a $27.55 price objective on the stock.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Barracuda Networks had a return on equity of 74.59% and a net margin of 4.09%.

CUDA has been the subject of several other research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $35.00 target price on shares of Barracuda Networks in a research note on Wednesday, October 11th. Stifel Nicolaus lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 27th. BidaskClub raised shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. KeyCorp reissued a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a research note on Friday, November 10th. Finally, Rosenblatt Securities lowered shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a research note on Monday, November 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $28.19.

Shares of Barracuda Networks (NYSE CUDA) remained flat at $$27.50 during mid-day trading on Monday. The stock had a trading volume of 545,100 shares, compared to its average volume of 1,255,189. The company has a market cap of $1,475.85, a PE ratio of 98.21, a price-to-earnings-growth ratio of 7.27 and a beta of 3.28. Barracuda Networks has a one year low of $19.06 and a one year high of $27.95.

In related news, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.10, for a total value of $28,875.00. Following the sale, the chief financial officer now owns 102,905 shares of the company’s stock, valued at $2,377,105.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Hughes sold 2,015 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total transaction of $45,539.00. Following the completion of the sale, the senior vice president now directly owns 155,033 shares in the company, valued at approximately $3,503,745.80. The disclosure for this sale can be found here. In the last three months, insiders sold 4,655 shares of company stock valued at $104,952. Insiders own 13.90% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Barracuda Networks by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after purchasing an additional 717 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in Barracuda Networks during the third quarter worth approximately $121,000. Legal & General Group Plc raised its holdings in Barracuda Networks by 15.7% during the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 828 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Barracuda Networks during the third quarter worth approximately $162,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Barracuda Networks by 17.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after purchasing an additional 1,104 shares in the last quarter. 75.69% of the stock is currently owned by hedge funds and other institutional investors.

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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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