Barracuda Networks Inc. (CUDA) Upgraded to “Buy” at Vetr Inc.
CUDA has been the subject of several other reports. Rosenblatt Securities reaffirmed a buy rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Thursday, October 13th. JMP Securities boosted their target price on shares of Barracuda Networks from $13.00 to $15.00 and gave the company a market underperform rating in a research note on Wednesday, October 12th. Stifel Nicolaus boosted their target price on shares of Barracuda Networks from $26.00 to $32.00 and gave the company a buy rating in a research note on Wednesday, October 12th. BWS Financial boosted their target price on shares of Barracuda Networks from $26.00 to $30.00 and gave the company a buy rating in a research note on Wednesday, October 12th. Finally, Zacks Investment Research raised shares of Barracuda Networks from a hold rating to a buy rating and set a $21.00 target price for the company in a research note on Friday, July 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $24.77.
Barracuda Networks (NYSE:CUDA) opened at 24.01 on Tuesday. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69. The firm has a 50-day moving average of $24.27 and a 200-day moving average of $19.48. The stock has a market capitalization of $1.25 billion, a PE ratio of 600.25 and a beta of 3.61.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results 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 business earned $87.90 million during the quarter. During the same period last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that Barracuda Networks will post $0.57 earnings per share for the current year.
In other news, major shareholder Dean M. Drako sold 3,768 shares of Barracuda Networks stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $22.01, for a total value of $82,933.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Dean M. Drako sold 58,899 shares of Barracuda Networks stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $26.40, for a total transaction of $1,554,933.60. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUDA. US Bancorp DE increased 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. BlackRock Advisors LLC increased its position 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 during the last quarter. AHL Partners LLP bought a new position in shares of Barracuda Networks during the second quarter worth approximately $158,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Barracuda Networks during the second quarter worth approximately $179,000. Finally, Algert Global LLC bought a new position in shares of Barracuda Networks during the second quarter worth approximately $182,000. 53.98% 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.
To view Vetr’s full report, visit Vetr’s official website.
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