Todays Report: The Barracuda Networks Inc. (CUDA) Earns “Underweight” Rating from Imperial Capital

The Barracuda Networks Inc. (CUDA) Earns “Underweight” Rating from Imperial Capital

Barracuda Networks Inc. (NYSE:CUDA)‘s stock had its “underweight” rating restated by research analysts at Imperial Capital in a report released on Thursday.

CUDA has been the topic of a number of other reports. Vetr lowered Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a research report on Monday, September 19th. JMP Securities upped their target price on Barracuda Networks from $13.00 to $15.00 and gave the stock a “market underperform” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on Barracuda Networks from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. BWS Financial upped their target price on Barracuda Networks to $30.00 in a research report on Wednesday. Finally, Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, July 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Barracuda Networks presently has an average rating of “Hold” and an average target price of $23.79.

Shares of Barracuda Networks (NYSE:CUDA) traded down 0.7362% during midday trading on Thursday, reaching $25.2825. The company’s stock had a trading volume of 243,559 shares. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69. The firm has a 50-day moving average of $23.96 and a 200-day moving average of $19.17. The stock has a market cap of $1.32 billion, a PE ratio of 632.0625 and a beta of 3.61.

Barracuda Networks (NYSE:CUDA) last issued its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. The company had revenue of $87.90 million for the quarter. During the same period in the previous year, the company earned $0.10 earnings per share. Barracuda Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts forecast that Barracuda Networks will post $0.57 EPS for the current year.

In related news, Director Gordon Stitt acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average price of $20.81 per share, with a total value of $83,240.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dean M. Drako sold 3,768 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $22.01, for a total value of $82,933.68. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its stake in shares of Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock worth $585,000 after buying an additional 271 shares during the period. Geode Capital Management LLC boosted its stake in Barracuda Networks by 1.1% in the first quarter. Geode Capital Management LLC now owns 127,648 shares of the company’s stock valued at $1,964,000 after buying an additional 1,373 shares during the last quarter. BlackRock Advisors LLC boosted its stake in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock valued at $156,000 after buying an additional 3,900 shares during the last quarter. US Bancorp DE boosted its stake in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock valued at $107,000 after buying an additional 4,698 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Barracuda Networks by 166.8% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock valued at $192,000 after buying an additional 7,922 shares during the last quarter. 54.20% of the stock is currently owned by institutional investors and hedge funds.

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