Today: The Barracuda Networks Inc. (CUDA) Stock Rating Reaffirmed by Morgan Stanley

The Barracuda Networks Inc. (CUDA) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Barracuda Networks Inc. (NYSE:CUDA) in a research report sent to investors on Wednesday. Morgan Stanley currently has a $23.00 price objective on the stock, up from their prior price objective of $19.00.

CUDA has been the topic of several other reports. Pacific Crest upgraded shares of Barracuda Networks from a sector weight rating to an overweight rating and boosted their price target for the stock from $23.27 to $30.00 in a report on Tuesday, August 30th. DA Davidson set a $20.00 price target on shares of Barracuda Networks and gave the stock a sell rating in a report on Tuesday, October 4th. Vetr upgraded shares of Barracuda Networks from a buy rating to a strong-buy rating and set a $26.50 price target on the stock in a report on Tuesday, August 30th. Rosenblatt Securities started coverage on shares of Barracuda Networks in a report on Monday, August 1st. They set a buy rating and a $30.00 price target on the stock. Finally, 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 report on Tuesday, July 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price 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 company has a 50-day moving average of $24.23 and a 200 day moving average of $19.42. The firm has a market capitalization of $1.31 billion, a P/E ratio of 626.25 and a beta of 3.60.

Barracuda Networks (NYSE:CUDA) last posted its earnings results on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, topping the 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 56.63%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Equities research analysts anticipate that Barracuda Networks will post $0.57 earnings per share for the current year.

In related news, major shareholder Dean M. Drako sold 58,899 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $26.40, for a total transaction of $1,554,933.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Dean M. Drako sold 93,585 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $22.15, for a total transaction of $2,072,907.75. 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 bought and sold shares of CUDA. Algert Global LLC raised its stake in Barracuda Networks by 242.5% in the third quarter. Algert Global LLC now owns 41,130 shares of the company’s stock worth $1,048,000 after buying an additional 29,122 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Barracuda Networks by 47.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,644 shares of the company’s stock worth $1,146,000 after buying an additional 24,436 shares during the period. American Century Companies Inc. purchased a new stake in Barracuda Networks during the second quarter worth $3,356,000. Metropolitan Life Insurance Co. NY purchased a new stake in Barracuda Networks during the second quarter worth $250,000. Finally, Numeric Investors LLC purchased a new stake in Barracuda Networks during the second quarter worth $321,000. 53.98% of the stock is currently owned by institutional investors and hedge funds.

Barracuda Networks Company Profile

Related posts

Leave a Comment