Stifel Nicolaus restated their buy rating on shares of Barracuda Networks, Inc. (NYSE:CUDA) in a report released on Wednesday. They currently have a $32.00 price target on the communications equipment provider’s stock.
Other equities research analysts also recently issued reports about the company. Piper Jaffray Companies reaffirmed an overweight rating and set a $28.00 price target (down from $29.00) on shares of Barracuda Networks in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Barracuda Networks from a hold rating to a sell rating in a research report on Thursday, April 20th. Robert W. Baird reaffirmed a buy rating on shares of Barracuda Networks in a research report on Tuesday, July 11th. Pacific Crest reaffirmed an overweight rating and set a $30.00 price target on shares of Barracuda Networks in a research report on Wednesday, June 28th. Finally, Imperial Capital reaffirmed an underperform rating and set a $21.00 price target on shares of Barracuda Networks in a research report on Sunday, April 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Barracuda Networks presently has an average rating of Buy and a consensus target price of $26.59.
Shares of Barracuda Networks (NYSE:CUDA) remained flat at $23.64 during mid-day trading on Wednesday. The company’s stock had a trading volume of 110,287 shares. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $26.69. The stock has a market cap of $1.25 billion, a P/E ratio of 124.42 and a beta of 3.33. The firm has a 50-day moving average of $22.71 and a 200-day moving average of $22.75.
Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The firm had revenue of $94.18 million for the quarter, compared to the consensus estimate of $91.18 million. During the same period in the prior year, the firm earned $0.20 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Barracuda Networks will post $0.76 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Barracuda Networks, Inc. (NYSE:CUDA) Given Buy Rating at Stifel Nicolaus” was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://stocknewstimes.com/2017/07/20/barracuda-networks-inc-nysecuda-given-buy-rating-at-stifel-nicolaus.html.
In related news, VP Diane Honda sold 7,026 shares of the firm’s stock in a transaction dated Saturday, July 1st. The shares were sold at an average price of $22.89, for a total value of $160,825.14. Following the transaction, the vice president now directly owns 100,085 shares of the company’s stock, valued at approximately $2,290,945.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael D. Hughes sold 4,467 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $20.44, for a total transaction of $91,305.48. Following the completion of the transaction, the senior vice president now directly owns 113,040 shares in the company, valued at $2,310,537.60. The disclosure for this sale can be found here. Insiders sold a total of 504,358 shares of company stock worth $12,122,372 over the last ninety days. 13.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Barracuda Networks by 18.5% in the first quarter. Wells Fargo & Company MN now owns 152,787 shares of the communications equipment provider’s stock worth $3,531,000 after buying an additional 23,901 shares during the period. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Barracuda Networks during the first quarter worth $517,000. Strs Ohio raised its position in Barracuda Networks by 38.2% in the first quarter. Strs Ohio now owns 244,551 shares of the communications equipment provider’s stock worth $5,651,000 after buying an additional 67,579 shares during the period. Hershey Trust Co. raised its position in Barracuda Networks by 8.2% in the first quarter. Hershey Trust Co. now owns 36,482 shares of the communications equipment provider’s stock worth $843,000 after buying an additional 2,762 shares during the period. Finally, Fox Run Management L.L.C. raised its position in Barracuda Networks by 130.5% in the first quarter. Fox Run Management L.L.C. now owns 32,500 shares of the communications equipment provider’s stock worth $751,000 after buying an additional 18,400 shares during the period. 62.77% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.
