Barracuda Networks Inc. (NYSE:CUDA) had its target price hoisted by Stifel Nicolaus from $26.00 to $32.00 in a research note published on Wednesday morning. They currently have a buy rating on the stock.
Other equities analysts have also issued reports about the company. JMP Securities restated a sell rating on shares of Barracuda Networks in a research report on Saturday, July 9th. Piper Jaffray Cos. upgraded Barracuda Networks from a neutral rating to an overweight rating and raised their price target for the stock from $18.00 to $32.00 in a research report on Wednesday. Imperial Capital restated an in-line rating and set a $17.00 price target (up from $15.00) on shares of Barracuda Networks in a research report on Tuesday, July 12th. Summit Research assumed coverage on Barracuda Networks in a research report on Friday, July 1st. They set a hold rating on the stock. Finally, Summit Redstone restated a hold rating and set a $15.00 price target on shares of Barracuda Networks in a research report on Saturday, July 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $23.79.
Barracuda Networks (NYSE:CUDA) traded down 0.255% during midday trading on Wednesday, hitting $25.405. The stock had a trading volume of 259,441 shares. The firm’s 50-day moving average price is $23.96 and its 200 day moving average price is $19.17. The company has a market cap of $1.32 billion, a P/E ratio of 635.125 and a beta of 3.61. Barracuda Networks has a 12 month low of $9.44 and a 12 month high of $26.69.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $87.90 million for the quarter. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. Barracuda Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. On average, analysts expect that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In other Barracuda Networks news, SVP Michael D. Hughes sold 5,000 shares of Barracuda Networks stock in a transaction on Friday, July 15th. The stock was sold at an average price of $20.23, for a total value of $101,150.00. Following the completion of the sale, the senior vice president now owns 114,513 shares of the company’s stock, valued at approximately $2,316,597.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael D. Hughes sold 4,468 shares of Barracuda Networks stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $23.33, for a total value of $104,238.44. Following the completion of the sale, the senior vice president now directly owns 113,981 shares of the company’s stock, valued at approximately $2,659,176.73. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.
Hedge funds have recently bought and sold shares of 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. acquired a new stake in Barracuda Networks during the second quarter worth approximately $6,264,000. BlackRock Fund Advisors raised its stake in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock worth $8,562,000 after buying an additional 330,942 shares during the last quarter. State Street Corp raised its stake in Barracuda Networks by 223.6% in the second quarter. State Street Corp now owns 410,761 shares of the company’s stock worth $6,219,000 after buying an additional 283,843 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock worth $14,091,000 after buying an additional 250,000 shares during the last quarter. 54.20% of the stock is owned by institutional investors and hedge funds.
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