Barracuda Networks (NYSE:CUDA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Barracuda Networks, Inc. is engaged in designing and delivering security and storage solutions. Its products span three distinct markets, including: 1) content security, 2) networking and application delivery and 3) data storage, protection and disaster recovery. It offers cloud-connected solutions that help its customers address security threats, enhance network performance, and protect and store their data. Barracuda Networks, Inc. is headquartered in Campbell, California. “

A number of other research analysts also recently weighed in on CUDA. BidaskClub raised Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research note on Friday, November 10th. JPMorgan Chase & Co. downgraded Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 price target on the stock. in a research note on Tuesday, December 12th. Robert W. Baird reaffirmed 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 reaffirmed a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $28.19.

Barracuda Networks (NYSE CUDA) opened at $27.50 on Friday. The stock has a market capitalization of $1,478.54, a PE ratio of 98.21, a PEG ratio of 7.28 and a beta of 3.07. Barracuda Networks has a 52 week low of $19.06 and a 52 week high of $27.95.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Barracuda Networks had a net margin of 4.09% and a return on equity of 74.59%. equities research analysts anticipate that Barracuda Networks will post 0.32 EPS for the current year.

In other Barracuda Networks news, SVP Michael D. Hughes sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $21.97, for a total transaction of $30,538.30. Following the completion of the sale, the senior vice president now directly owns 155,118 shares of the company’s stock, valued at approximately $3,407,942.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in 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 worth $67,660,000 after purchasing an additional 204,731 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Barracuda Networks by 5.0% during 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 purchasing an additional 69,759 shares in the last quarter. Rothschild Asset Management Inc. increased its holdings in Barracuda Networks by 5.9% during the 3rd quarter. Rothschild Asset Management Inc. now owns 900,328 shares of the communications equipment provider’s stock worth $21,815,000 after purchasing an additional 50,500 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of Barracuda Networks in the fourth quarter valued at approximately $18,279,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Barracuda Networks by 86.5% in the third quarter. Ameriprise Financial Inc. now owns 605,659 shares of the communications equipment provider’s stock valued at $14,675,000 after acquiring an additional 280,887 shares in the last quarter. 74.38% 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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