Barracuda Networks Inc. (NYSE:CUDA) had its price target lifted by BWS Financial from $26.00 to $30.00 in a report published on Wednesday morning. They currently have a buy rating on the stock.
Several other brokerages also recently issued reports on CUDA. Imperial Capital downgraded Barracuda Networks from an in-line rating to an underperform rating and increased their price target for the stock from $17.00 to $20.00 in a report on Tuesday, October 4th. Vetr downgraded Barracuda Networks from a buy rating to a hold rating and set a $24.75 price target for the company. in a report on Tuesday, October 4th. DA Davidson restated an underperform rating and issued a $19.50 price target on shares of Barracuda Networks in a report on Wednesday, October 5th. Zacks Investment Research downgraded Barracuda Networks from a strong-buy rating to a hold rating in a report on Wednesday, September 7th. Finally, Piper Jaffray Cos. upgraded Barracuda Networks from a neutral rating to an overweight rating and increased their price objective for the stock from $18.00 to $32.00 in a report on Wednesday, October 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $24.58.
Barracuda Networks (NYSE:CUDA) opened at 25.52 on Wednesday. The firm has a 50-day moving average price of $24.15 and a 200 day moving average price of $19.29. The company has a market capitalization of $1.33 billion, a P/E ratio of 638.00 and a beta of 3.60. 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 results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company earned $87.90 million during the quarter. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that Barracuda Networks will post $0.57 EPS for the current year.
In other Barracuda Networks news, major shareholder Dean M. Drako sold 146,232 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $22.01, for a total transaction of $3,218,566.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffry R. Allen sold 6,403 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $20.75, for a total value of $132,862.25. The disclosure for this sale can be found here. Insiders own 39.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its position in 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 period. BlackRock Advisors LLC raised its position in 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 period. AHL Partners LLP bought a new position in Barracuda Networks during the second quarter worth approximately $158,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Barracuda Networks during the second quarter worth approximately $179,000. Finally, Algert Global LLC bought a new position in Barracuda Networks during the second quarter worth approximately $182,000. Hedge funds and other institutional investors own 53.98% of the company’s stock.
Barracuda Networks Company Profile