Barracuda Networks, Inc. (CUDA) Receives Consensus Recommendation of “Hold” from Brokerages
Barracuda Networks, Inc. (NYSE:CUDA) has earned a consensus rating of “Hold” from the twenty research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $27.50.
A number of brokerages have recently commented on CUDA. Needham & Company LLC cut shares of Barracuda Networks from a “buy” rating to a “hold” rating in a report on Tuesday. BTIG Research cut shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a report on Monday. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price on shares of Barracuda Networks in a report on Tuesday, September 12th. Robert W. Baird restated a “buy” rating and set a $29.00 target price on shares of Barracuda Networks in a report on Tuesday, October 24th. Finally, Zacks Investment Research cut shares of Barracuda Networks from a “hold” rating to a “sell” rating in a report on Friday, October 13th.
Shares of Barracuda Networks (NYSE:CUDA) traded down $0.07 during trading on Thursday, reaching $27.57. 3,247,300 shares of the company’s stock were exchanged, compared to its average volume of 834,943. The stock has a market cap of $1,470.00, a P/E ratio of 89.16, a P/E/G ratio of 7.37 and a beta of 3.22. Barracuda Networks has a fifty-two week low of $19.06 and a fifty-two week high of $27.75.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. The business had revenue of $94.30 million for the quarter, compared to the consensus estimate of $93.32 million. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. analysts predict that Barracuda Networks will post 0.31 earnings per share for the current fiscal year.
In other Barracuda Networks news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $24.03, for a total value of $30,037.50. Following the completion of the transaction, the chief financial officer now owns 103,093 shares of the company’s stock, valued at approximately $2,477,324.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael D. Hughes sold 1,390 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $21.97, for a total value of $30,538.30. Following the completion of the transaction, the senior vice president now directly owns 155,118 shares of the company’s stock, valued at approximately $3,407,942.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,667,559 shares of company stock worth $65,815,738. 13.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Barracuda Networks by 7.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,934,104 shares of the communications equipment provider’s stock valued at $67,660,000 after purchasing an additional 204,731 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Barracuda Networks by 24.4% during the 2nd quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock valued at $50,094,000 after purchasing an additional 426,715 shares during the last quarter. ETF Managers Group LLC purchased a new stake in shares of Barracuda Networks during the 2nd quarter valued at about $44,968,000. Renaissance Technologies LLC increased its position in shares of Barracuda Networks by 35.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock valued at $35,473,000 after purchasing an additional 402,605 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Barracuda Networks by 5.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,462,802 shares of the communications equipment provider’s stock worth $35,443,000 after acquiring an additional 69,759 shares in the last quarter. 76.01% of the stock is owned by hedge funds and other institutional investors.
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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.
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