Analysts expect that Barracuda Networks, Inc. (NYSE:CUDA) will announce earnings of $0.17 per share for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Barracuda Networks’ earnings. The lowest EPS estimate is $0.17 and the highest is $0.19. Barracuda Networks reported earnings per share of $0.21 during the same quarter last year, which suggests a negative year over year growth rate of 19%. The company is expected to issue its next earnings results after the market closes on Tuesday, October 10th.

According to Zacks, analysts expect that Barracuda Networks will report full year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.79. For the next fiscal year, analysts forecast that the company will report earnings of $0.87 per share, with EPS estimates ranging from $0.76 to $0.92. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Barracuda Networks.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $94.18 million during the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS.

A number of equities analysts have weighed in on CUDA shares. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Monday, June 26th. Pacific Crest restated an “overweight” rating and issued a $30.00 price objective on shares of Barracuda Networks in a research report on Wednesday, June 28th. Northland Securities restated a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a research report on Friday, June 30th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, July 11th. Finally, Imperial Capital raised their price objective on shares of Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Barracuda Networks has an average rating of “Buy” and a consensus target price of $26.59.

In other Barracuda Networks news, Director Michael D. Perone sold 403,060 shares of Barracuda Networks stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $24.13, for a total transaction of $9,725,837.80. Following the transaction, the director now directly owns 3,112,640 shares of the company’s stock, valued at $75,108,003.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Diane Honda sold 7,026 shares of Barracuda Networks stock in a transaction that occurred on Saturday, July 1st. The stock was sold at an average price of $22.89, for a total transaction of $160,825.14. Following the transaction, the vice president now directly owns 100,085 shares in the company, valued at $2,290,945.65. The disclosure for this sale can be found here. Insiders sold 2,256,482 shares of company stock worth $54,636,658 over the last ninety days. 13.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Asset Management One Co. Ltd. increased its stake in shares of Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares during the period. Renaissance Group LLC increased its stake in shares of Barracuda Networks by 2.5% in the second quarter. Renaissance Group LLC now owns 14,118 shares of the communications equipment provider’s stock worth $326,000 after buying an additional 343 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Barracuda Networks by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock worth $1,209,000 after buying an additional 621 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Barracuda Networks by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider’s stock worth $776,000 after buying an additional 655 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Barracuda Networks by 4.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,396 shares of the communications equipment provider’s stock worth $401,000 after buying an additional 710 shares during the period. 65.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Barracuda Networks (CUDA) opened at 24.19 on Tuesday. The company has a market cap of $1.28 billion, a P/E ratio of 127.32 and a beta of 3.28. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $26.69. The firm has a 50-day moving average of $23.54 and a 200-day moving average of $22.73.

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Barracuda Networks Company Profile

Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.

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