Barracuda Networks, Inc. (CUDA) Given Consensus Rating of “Hold” by Analysts

Shares of Barracuda Networks, Inc. (NYSE:CUDA) have earned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $27.50.

Several analysts recently commented on CUDA shares. Robert W. Baird reissued a “buy” rating and set a $29.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. J P Morgan Chase & Co reissued a “buy” rating and set a $35.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. KeyCorp reissued a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Monday, October 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a report on Tuesday, September 12th.

In other news, CEO William D. Jenkins, Jr. sold 16,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $24.30, for a total value of $400,950.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dustin Driggs sold 1,250 shares of the stock in a transaction that occurred on 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 owns 101,843 shares in the company, valued at approximately $2,481,913.91. The disclosure for this sale can be found here. Insiders sold a total of 2,380,457 shares of company stock worth $58,879,132 in the last quarter. Company insiders own 13.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in 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 worth $111,000 after acquiring an additional 717 shares during the period. Advisors Asset Management Inc. bought a new stake in Barracuda Networks during the 2nd quarter worth approximately $113,000. Pinebridge Investments L.P. bought a new stake in Barracuda Networks during the 3rd quarter worth approximately $121,000. Legal & General Group Plc raised its stake in Barracuda Networks by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after acquiring an additional 828 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Barracuda Networks during the 3rd quarter worth approximately $162,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Shares of Barracuda Networks (NYSE CUDA) traded up $0.08 during mid-day trading on Thursday, reaching $27.58. 1,998,849 shares of the company traded hands, compared to its average volume of 850,199. Barracuda Networks has a one year low of $19.06 and a one year high of $27.75. The stock has a market cap of $1,474.64, a P/E ratio of 88.74, a price-to-earnings-growth ratio of 7.34 and a beta of 3.28.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The company had revenue of $94.30 million for the quarter, compared to the consensus estimate of $93.32 million. During the same period in the prior year, the firm posted $0.21 EPS. Barracuda Networks’s revenue for the quarter was up 7.3% on a year-over-year basis. analysts forecast that Barracuda Networks will post 0.31 EPS for the current fiscal year.

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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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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