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.
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