Barracuda Networks Inc. (CUDA) Given a $20.00 Price Target at Imperial Capital
Several other equities analysts have also recently issued reports on CUDA. Summit Research started coverage on Barracuda Networks in a research note on Friday, July 1st. They set a hold rating on the stock. Summit Redstone reissued a hold rating and set a $15.00 target price on shares of Barracuda Networks in a research note on Saturday, July 2nd. DA Davidson reissued a neutral rating and set a $15.50 target price on shares of Barracuda Networks in a research note on Wednesday, July 6th. Pacific Crest reissued a hold rating on shares of Barracuda Networks in a research note on Thursday, July 7th. Finally, BTIG Research reissued a buy rating and set a $20.00 target price on shares of Barracuda Networks in a research note on Friday, July 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $23.94.
Shares of Barracuda Networks (NYSE:CUDA) traded up 2.79% during trading on Wednesday, reaching $26.18. The company’s stock had a trading volume of 1,367,151 shares. The firm has a market cap of $1.36 billion, a P/E ratio of 654.50 and a beta of 3.61. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69. The stock’s 50 day moving average is $23.96 and its 200 day moving average is $19.17.
Barracuda Networks (NYSE:CUDA) last posted its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. The firm had revenue of $87.90 million for the quarter. During the same period last year, the firm posted $0.10 earnings per share. Barracuda Networks’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Barracuda Networks will post $0.57 EPS for the current fiscal year.
In other Barracuda Networks news, CEO William D. Jenkins, Jr. sold 4,000 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $20.23, for a total value of $80,920.00. Following the sale, the chief executive officer now directly owns 625,934 shares of the company’s stock, valued at $12,662,644.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Hughes sold 4,468 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $25.05, for a total value of $111,923.40. Following the completion of the sale, the senior vice president now directly owns 113,971 shares in the company, valued at $2,854,973.55. The disclosure for this sale can be found here. 39.60% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in CUDA. Bank of New York Mellon Corp increased its stake in Barracuda Networks by 69.3% in the second quarter. Bank of New York Mellon Corp now owns 81,445 shares of the company’s stock valued at $1,232,000 after buying an additional 33,349 shares during the period. American Century Companies Inc. acquired a new position in shares of Barracuda Networks during the second quarter worth about $3,356,000. Strs Ohio increased its position in shares of Barracuda Networks by 23.1% in the second quarter. Strs Ohio now owns 95,936 shares of the company’s stock worth $1,452,000 after buying an additional 18,000 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Barracuda Networks during the second quarter worth about $232,000. Finally, Hershey Trust Co. increased its position in shares of Barracuda Networks by 106.9% in the second quarter. Hershey Trust Co. now owns 19,827 shares of the company’s stock worth $300,000 after buying an additional 10,245 shares during the last quarter. 54.20% of the stock is currently owned by institutional investors and hedge funds.
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.
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