Stifel Nicolaus lowered shares of Barracuda Networks (NYSE:CUDA) from a buy rating to a hold rating in a research note published on Monday, The Fly reports.

CUDA has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Barracuda Networks from a hold rating to a sell rating in a research note on Friday, October 13th. BidaskClub upgraded shares of Barracuda Networks from a sell rating to a hold rating in a report on Friday, October 27th. KeyCorp reiterated a buy rating and set a $30.00 price target on shares of Barracuda Networks in a research note on Friday, November 10th. Robert W. Baird reiterated a buy rating and set a $29.00 price target on shares of Barracuda Networks in a research note on Tuesday, October 24th. Finally, Rosenblatt Securities reiterated a buy rating and set a $30.00 price target on shares of Barracuda Networks in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $28.10.

Barracuda Networks (NYSE:CUDA) opened at $27.65 on Monday. The company has a market capitalization of $1,470.00, a PE ratio of 89.16, a price-to-earnings-growth ratio of 7.37 and a beta of 3.22. Barracuda Networks has a twelve month low of $19.06 and a twelve month high of $27.75.

Barracuda Networks (NYSE:CUDA) last issued its earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $93.32 million. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. equities research analysts predict that Barracuda Networks will post 0.31 EPS for the current year.

In other news, SVP Michael D. Hughes sold 1,390 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $21.97, for a total value of $30,538.30. Following the transaction, the senior vice president now directly owns 155,118 shares of the company’s stock, valued at $3,407,942.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $24.37, for a total transaction of $30,462.50. Following the completion of the transaction, the chief financial officer now directly owns 101,843 shares in the company, valued at $2,481,913.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,649,809 shares of company stock worth $65,389,370. Insiders own 13.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CUDA. Vanguard Group Inc. increased its position in Barracuda Networks by 19.0% during the first quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock worth $63,075,000 after purchasing an additional 436,541 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Barracuda Networks by 45.4% during the first quarter. Geode Capital Management LLC now owns 400,240 shares of the communications equipment provider’s stock valued at $9,249,000 after acquiring an additional 124,889 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Barracuda Networks by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,263,618 shares of the communications equipment provider’s stock valued at $29,202,000 after acquiring an additional 231,507 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Barracuda Networks by 89.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 190,862 shares of the communications equipment provider’s stock valued at $4,411,000 after acquiring an additional 90,269 shares during the last quarter. Finally, Credit Suisse AG increased its position in shares of Barracuda Networks by 84.0% during the first quarter. Credit Suisse AG now owns 33,638 shares of the communications equipment provider’s stock valued at $777,000 after acquiring an additional 15,353 shares during the last quarter. Hedge funds and other institutional investors own 76.01% of the company’s stock.

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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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Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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