Barracuda Networks Inc. (CUDA) Stock Rating Lowered by Vetr Inc.
Barracuda Networks Inc. (NYSE:CUDA) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday. They currently have a $26.50 target price on the stock. Vetr‘s target price would indicate a potential upside of 13.20% from the company’s previous close.
CUDA has been the topic of a number of other reports. Zacks Investment Research lowered Barracuda Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Pacific Crest reissued a “hold” rating on shares of Barracuda Networks in a research note on Sunday, May 22nd. JMP Securities reissued a “sell” rating on shares of Barracuda Networks in a research note on Saturday, July 9th. Piper Jaffray Cos. reissued a “neutral” rating and set a $18.00 price objective (up previously from $17.00) on shares of Barracuda Networks in a research note on Sunday, July 10th. Finally, Imperial Capital reissued an “in-line” rating and set a $15.00 price objective (down previously from $16.00) on shares of Barracuda Networks in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $21.58.
Barracuda Networks (NYSE:CUDA) opened at 23.41 on Monday. The company has a market cap of $1.22 billion, a P/E ratio of 585.25 and a beta of 3.63. The stock’s 50 day moving average price is $22.64 and its 200-day moving average price is $18.04. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $28.37.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Thursday, July 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.09. The firm had revenue of $86.70 million for the quarter. Barracuda Networks had a negative return on equity of 33.60% and a net margin of 0.67%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities analysts predict that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In other Barracuda Networks news, major shareholder Dean M. Drako sold 146,232 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $22.01, for a total transaction of $3,218,566.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Faugno sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $19.90, for a total value of $497,500.00. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of CUDA. Okumus Fund Management Ltd. bought a new stake in shares of Barracuda Networks during the first quarter valued at $68,773,000. Spark Investment Management LLC bought a new stake in shares of Barracuda Networks during the first quarter valued at $1,262,000. A.R.T. Advisors LLC increased its stake in shares of Barracuda Networks by 18.7% in the first quarter. A.R.T. Advisors LLC now owns 103,890 shares of the company’s stock valued at $1,599,000 after buying an additional 16,400 shares during the period. Jana Partners LLC bought a new stake in shares of Barracuda Networks during the first quarter valued at $1,540,000. Finally, Prudential Financial Inc. bought a new stake in shares of Barracuda Networks during the first quarter valued at $2,512,000. Institutional investors own 54.20% of the company’s stock.
About Barracuda Networks
Barracuda Networks, Inc (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats, improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity, and are offered on a subscription basis.
To view Vetr’s full report, visit Vetr’s official website.
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