Barracuda Networks Inc. (CUDA) Set to Announce Earnings on Tuesday
Barracuda Networks Inc. (NYSE:CUDA) will be posting its Q217 quarterly earnings results on Tuesday, October 11th. Analysts expect Barracuda Networks to post earnings of $0.82 per share and revenue of $1.72 billion for the quarter.
Barracuda Networks Inc. (NYSE:CUDA) opened at 24.64 on Friday. The company has a market cap of $1.28 billion, a P/E ratio of 616.00 and a beta of 3.61. The firm’s 50 day moving average is $23.69 and its 200 day moving average is $18.90. Barracuda Networks Inc. has a 12-month low of $9.44 and a 12-month high of $25.77.
In related news, CFO David Faugno sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $19.90, for a total transaction of $497,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gordon Stitt bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $20.81 per share, for a total transaction of $83,240.00. The disclosure for this purchase can be found here. Corporate insiders own 39.60% of the company’s stock.
A number of large investors have recently made changes to their positions in CUDA. 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 valued at $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 in the last quarter. AHL Partners LLP purchased a new stake in shares of Barracuda Networks during the second quarter worth approximately $158,000. Algert Global LLC purchased a new stake in shares of Barracuda Networks during the second quarter worth approximately $182,000. Finally, Pacad Investment Ltd. purchased a new stake in shares of Barracuda Networks during the second quarter worth approximately $183,000. 54.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the stock. JMP Securities reissued a “sell” rating on shares of Barracuda Networks in a research note on Saturday, July 9th. Imperial Capital reissued an “in-line” rating and set a $17.00 target price (up previously from $15.00) on shares of Barracuda Networks in a research note on Tuesday, July 12th. Summit Research began coverage on shares of Barracuda Networks in a research report on Friday, July 1st. They set a “hold” rating on the stock. Summit Redstone restated a “hold” rating and set a $15.00 price target on shares of Barracuda Networks in a research report on Saturday, July 2nd. Finally, DA Davidson lowered shares of Barracuda Networks from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.72.
Barracuda Networks Company Profile
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.
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