The Barracuda Networks Inc. (CUDA) Given a $20.00 Price Target by Imperial Capital Analysts

The Barracuda Networks Inc. (CUDA) Given a $20.00 Price Target by Imperial Capital Analysts

Barracuda Networks Inc. (NYSE:CUDA) has been given a $20.00 price target by investment analysts at Imperial Capital in a research note issued on Wednesday. The brokerage presently has a a “sell” rating on the stock. Imperial Capital’s price objective indicates a potential downside of 21.14% from the company’s current price.

CUDA has been the subject of several other reports. Vetr lowered shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 price objective for the company. in a report on Monday, September 19th. JMP Securities raised their price objective on shares of Barracuda Networks from $13.00 to $15.00 and gave the stock a “market underperform” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Barracuda Networks from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. BWS Financial raised their price objective on shares of Barracuda Networks from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Friday, July 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.46.

Barracuda Networks (NYSE:CUDA) opened at 25.36 on Wednesday. The company’s 50-day moving average is $24.05 and its 200 day moving average is $19.21. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69. The stock has a market capitalization of $1.32 billion, a PE ratio of 634.00 and a beta of 3.61.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The company earned $87.90 million during the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 50.65%. Barracuda Networks’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. On average, analysts predict that Barracuda Networks will post $0.57 EPS for the current year.

In related news, SVP Michael D. Hughes sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $22.22, for a total value of $111,100.00. Following the sale, the senior vice president now directly owns 109,513 shares in the company, valued at approximately $2,433,378.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael D. Hughes sold 4,468 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $25.05, for a total transaction of $111,923.40. Following the completion of the sale, the senior vice president now owns 113,971 shares in the company, valued at $2,854,973.55. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Okumus Fund Management Ltd. acquired a new stake in Barracuda Networks during the first quarter worth approximately $68,773,000. Fuller & Thaler Asset Management Inc. purchased a new position in Barracuda Networks during the second quarter valued at $6,264,000. BlackRock Fund Advisors increased its position in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock valued at $8,562,000 after buying an additional 330,942 shares during the period. State Street Corp increased its position in Barracuda Networks by 223.6% in the second quarter. State Street Corp now owns 410,761 shares of the company’s stock valued at $6,219,000 after buying an additional 283,843 shares during the period. Finally, Primecap Management Co. CA increased its position in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock valued at $14,091,000 after buying an additional 250,000 shares during the period. Institutional investors and hedge funds own 54.20% of the company’s stock.

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