Barracuda Networks Inc. (CUDA) Stock Rating Reaffirmed by DA Davidson
Barracuda Networks Inc. (NYSE:CUDA)‘s stock had its “underperform” rating restated by DA Davidson in a report released on Wednesday. They currently have a $19.50 price objective on the stock. DA Davidson’s price objective points to a potential downside of 20.86% from the stock’s current price.
A number of other analysts have also weighed in on the stock. Summit Redstone reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Barracuda Networks in a research note on Saturday, July 2nd. Vetr lowered shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 price objective for the company. in a research note on Monday, September 19th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $18.00 price objective (up from $17.00) on shares of Barracuda Networks in a research note on Sunday, July 10th. Pacific Crest raised shares of Barracuda Networks from a “sector weight” rating to an “overweight” rating and upped their price objective for the stock from $23.27 to $30.00 in a research note on Tuesday, August 30th. Finally, Summit Research started coverage on shares of Barracuda Networks in a research note on Friday, July 1st. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Barracuda Networks currently has a consensus rating of “Hold” and an average price target of $20.72.
Shares of Barracuda Networks (NYSE:CUDA) opened at 24.64 on Wednesday. Barracuda Networks has a 52 week low of $9.44 and a 52 week high of $25.77. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 616.00 and a beta of 3.61. The stock has a 50 day moving average of $23.69 and a 200-day moving average of $18.90.
In other news, SVP Michael D. Hughes sold 4,468 shares of Barracuda Networks stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $25.05, for a total transaction of $111,923.40. Following the completion of the transaction, the senior vice president now directly owns 113,971 shares of the company’s stock, valued at approximately $2,854,973.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gordon Stitt bought 4,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average cost of $20.81 per share, with a total value of $83,240.00. The disclosure for this purchase can be found here. Company insiders own 39.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of CUDA. Parametric Portfolio Associates LLC raised its position in Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock valued at $585,000 after buying an additional 271 shares during the period. Geode Capital Management LLC raised its position in Barracuda Networks by 1.1% in the first quarter. Geode Capital Management LLC now owns 127,648 shares of the company’s stock valued at $1,964,000 after buying an additional 1,373 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 valued at $156,000 after buying an additional 3,900 shares during the period. 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 valued at $107,000 after buying an additional 4,698 shares during the period. Finally, American International Group Inc. raised its position in Barracuda Networks by 166.8% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock valued at $192,000 after buying an additional 7,922 shares during the period. 54.20% of the stock is owned by hedge funds and other institutional investors.
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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