Barracuda Networks Inc. (NYSE:CUDA) had its target price increased by BTIG Research from $26.00 to $28.00 in a research note issued to investors on Wednesday morning. They currently have a buy rating on the stock.
Other research analysts have also issued research reports about the company. JMP Securities reiterated a sell rating on shares of Barracuda Networks in a research report on Saturday, July 9th. Imperial Capital reiterated an in-line rating and set a $17.00 target price (up previously from $15.00) on shares of Barracuda Networks in a research report on Tuesday, July 12th. Summit Research began coverage on Barracuda Networks in a research report on Friday, July 1st. They set a hold rating on the stock. Summit Redstone reiterated a hold rating and set a $15.00 target price on shares of Barracuda Networks in a research report on Saturday, July 2nd. Finally, DA Davidson lowered Barracuda Networks from a neutral rating to an underperform rating and increased their target price for the company from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average price target of $24.58.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.05 on Wednesday. Barracuda Networks has a 52 week low of $9.44 and a 52 week high of $26.69. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 626.25 and a beta of 3.60. The stock’s 50 day moving average is $24.23 and its 200-day moving average is $19.42.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. The firm had revenue of $87.90 million for the quarter. During the same quarter last year, the business earned $0.10 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In related news, Director Gordon Stitt bought 4,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was acquired at an average cost of $20.81 per share, with a total value of $83,240.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Hughes sold 5,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $22.22, for a total value of $111,100.00. Following the completion of the sale, the senior vice president now directly owns 109,513 shares of the company’s stock, valued at $2,433,378.86. The disclosure for this sale can be found here. 39.60% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock worth $107,000 after buying an additional 4,698 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock worth $156,000 after buying an additional 3,900 shares during the last quarter. AHL Partners LLP acquired a new stake in shares of Barracuda Networks during the second quarter worth about $158,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Barracuda Networks during the second quarter worth about $179,000. Finally, Algert Global LLC acquired a new stake in shares of Barracuda Networks during the second quarter worth about $182,000. 53.98% of the stock is owned by institutional investors and hedge funds.
About Barracuda Networks