BidaskClub upgraded shares of Barracuda Networks, Inc. (NYSE:CUDA) from a sell rating to a hold rating in a research report sent to investors on Friday.

CUDA has been the topic of a number of other research reports. Zacks Investment Research raised Barracuda Networks from a hold rating to a buy rating and set a $26.00 price target on the stock in a research note on Thursday, July 13th. Rosenblatt Securities reissued a buy rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Monday, October 9th. Robert W. Baird reissued a buy rating and issued a $29.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. Needham & Company LLC reissued a buy rating and issued a $28.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co reissued a buy rating and issued a $35.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Barracuda Networks currently has an average rating of Buy and an average target price of $28.10.

Barracuda Networks (NYSE CUDA) opened at 23.42 on Friday. The firm has a 50-day moving average of $23.94 and a 200-day moving average of $22.88. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $26.16. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 137.76 and a beta of 3.27.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. The firm had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $93.32 million. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. Barracuda Networks’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Equities research analysts forecast that Barracuda Networks will post $0.75 earnings per share for the current fiscal year.

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In other news, CFO Dustin Driggs sold 1,250 shares of Barracuda Networks stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $22.63, for a total transaction of $28,287.50. Following the completion of the sale, the chief financial officer now directly owns 105,471 shares in the company, valued at approximately $2,386,808.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael D. Hughes sold 2,015 shares of Barracuda Networks stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total value of $45,539.00. Following the sale, the senior vice president now owns 155,033 shares of the company’s stock, valued at $3,503,745.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,062,431 shares of company stock valued at $75,302,076. 13.90% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of Barracuda Networks by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 717 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Barracuda Networks in the 2nd quarter worth approximately $113,000. Legal & General Group Plc lifted its holdings in Barracuda Networks by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 828 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Barracuda Networks by 17.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Exane Derivatives lifted its holdings in Barracuda Networks by 1,004.9% in the 3rd quarter. Exane Derivatives now owns 7,624 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 6,934 shares during the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.

About Barracuda Networks

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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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