Barracuda Networks Inc. (NYSE:CUDA)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a research note issued on Thursday. They currently have a $30.00 price objective on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 17.55% from the company’s previous close.
Other analysts also recently issued reports about the stock. JMP Securities reissued a “sell” rating on shares of Barracuda Networks in a research report on Saturday, July 9th. Imperial Capital reissued an “in-line” rating and set a $17.00 price objective (up from $15.00) on shares of Barracuda Networks in a research report on Tuesday, July 12th. Summit Research assumed coverage on shares of Barracuda Networks in a research report on Friday, July 1st. They set a “hold” rating on the stock. Summit Redstone reissued a “hold” rating and set a $15.00 price objective on shares of Barracuda Networks in a research report on Saturday, July 2nd. Finally, DA Davidson downgraded shares of Barracuda Networks from a “neutral” rating to an “underperform” rating and increased their price objective 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 investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Barracuda Networks currently has a consensus rating of “Hold” and a consensus price target of $24.58.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.52 on Thursday. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The stock has a 50 day moving average of $24.15 and a 200 day moving average of $19.29. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 638.00 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. The company had revenue of $87.90 million for the quarter. During the same period last year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Barracuda Networks will post $0.57 EPS for the current year.
In other Barracuda Networks news, Director Jeffry R. Allen sold 6,403 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $20.75, for a total transaction of $132,862.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Dean M. Drako sold 3,768 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $22.01, for a total transaction of $82,933.68. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake 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 last quarter. BlackRock Advisors LLC boosted its stake 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 last quarter. AHL Partners LLP purchased a new stake in Barracuda Networks during the second quarter worth approximately $158,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Barracuda Networks during the second quarter worth approximately $179,000. Finally, Algert Global LLC purchased a new stake in Barracuda Networks during the second quarter worth approximately $182,000. Institutional investors own 54.20% of the company’s stock.
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