Barracuda Networks, Inc. (NYSE:CUDA) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Monday.
Other research analysts also recently issued research reports about the company. Rosenblatt Securities downgraded Barracuda Networks from a “buy” rating to a “neutral” rating in a research note on Monday. Piper Jaffray Companies downgraded Barracuda Networks from an “overweight” rating to a “neutral” rating in a research note on Monday. Robert W. Baird reissued a “buy” rating and set a $29.00 target price on shares of Barracuda Networks in a research note on Tuesday, October 24th. Zacks Investment Research downgraded Barracuda Networks from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Finally, BidaskClub downgraded Barracuda Networks from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.10.
Shares of Barracuda Networks (CUDA) traded up $0.18 during trading hours on Monday, reaching $23.69. The company’s stock had a trading volume of 256,300 shares, compared to its average volume of 784,979. Barracuda Networks has a fifty-two week low of $19.06 and a fifty-two week high of $26.16. The stock has a market capitalization of $1,470.00, a PE ratio of 76.42, a price-to-earnings-growth ratio of 6.32 and a beta of 3.22.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The firm had revenue of $94.30 million for the quarter, compared to the consensus estimate of $93.32 million. During the same quarter last year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. equities analysts expect that Barracuda Networks will post 0.31 earnings per share for the current year.
In other news, Director Michael D. Perone sold 598,000 shares of Barracuda Networks stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $25.72, for a total value of $15,380,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Hughes sold 1,390 shares of the business’s stock in a transaction on 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 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 ninety days, insiders sold 2,667,559 shares of company stock worth $65,815,738. Corporate insiders own 13.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new position in Barracuda Networks during the 3rd quarter valued at $212,000. Cubist Systematic Strategies LLC bought a new stake in Barracuda Networks during the 3rd quarter valued at $275,000. Segall Bryant & Hamill LLC raised its position in Barracuda Networks by 523.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 197,441 shares of the communications equipment provider’s stock valued at $4,784,000 after purchasing an additional 165,748 shares in the last quarter. Allianz Asset Management GmbH raised its position in Barracuda Networks by 274.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 247,939 shares of the communications equipment provider’s stock valued at $6,008,000 after purchasing an additional 181,678 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in Barracuda Networks by 147.8% during the 3rd quarter. Engineers Gate Manager LP now owns 58,701 shares of the communications equipment provider’s stock valued at $1,422,000 after purchasing an additional 35,014 shares in the last quarter. Institutional investors own 68.10% 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.
Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.