Rosenblatt Securities Reiterates Buy Rating for Barracuda Networks, Inc. (CUDA)

Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Monday. They presently have a $30.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 16.55% from the stock’s current price.

A number of other research firms also recently weighed in on CUDA. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Wednesday, July 19th. Northland Securities restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research note on Friday, June 30th. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, July 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Barracuda Networks currently has an average rating of “Buy” and a consensus target price of $26.59.

Barracuda Networks (CUDA) opened at 25.74 on Monday. The company’s 50-day moving average is $24.20 and its 200 day moving average is $22.91. The company has a market capitalization of $1.36 billion, a P/E ratio of 135.47 and a beta of 3.27. Barracuda Networks has a one year low of $19.06 and a one year high of $26.69.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Monday, October 9th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $94.30 million for the quarter, compared to the consensus estimate of $93.32 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Analysts predict that Barracuda Networks will post $0.76 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Rosenblatt Securities Reiterates Buy Rating for Barracuda Networks, Inc. (CUDA)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://ledgergazette.com/2017/10/11/rosenblatt-securities-reiterates-buy-rating-for-barracuda-networks-inc-cuda.html.

In other Barracuda Networks news, CEO William D. Jenkins, Jr. sold 16,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $24.00, for a total transaction of $396,000.00. Following the completion of the transaction, the chief executive officer now owns 604,608 shares in the company, valued at approximately $14,510,592. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dustin Driggs sold 5,135 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.85, for a total transaction of $127,604.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,354,783 shares of company stock valued at $57,100,375. 13.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings 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 purchasing an additional 717 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Barracuda Networks during the 2nd quarter worth approximately $113,000. Legal & General Group Plc raised its holdings 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 purchasing an additional 828 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Barracuda Networks by 2.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 177 shares during the last quarter

A number of other research firms also recently weighed in on CUDA. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Wednesday, July 19th. Northland Securities restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research note on Friday, June 30th. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, July 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Barracuda Networks currently has an average rating of “Buy” and a consensus target price of $26.59.

Barracuda Networks (CUDA) opened at 25.74 on Monday. The company’s 50-day moving average is $24.20 and its 200 day moving average is $22.91. The company has a market capitalization of $1.36 billion, a P/E ratio of 135.47 and a beta of 3.27. Barracuda Networks has a one year low of $19.06 and a one year high of $26.69.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Monday, October 9th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $94.30 million for the quarter, compared to the consensus estimate of $93.32 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Analysts predict that Barracuda Networks will post $0.76 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Rosenblatt Securities Reiterates Buy Rating for Barracuda Networks, Inc. (CUDA)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://ledgergazette.com/2017/10/11/rosenblatt-securities-reiterates-buy-rating-for-barracuda-networks-inc-cuda.html.

In other Barracuda Networks news, CEO William D. Jenkins, Jr. sold 16,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $24.00, for a total transaction of $396,000.00. Following the completion of the transaction, the chief executive officer now owns 604,608 shares in the company, valued at approximately $14,510,592. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dustin Driggs sold 5,135 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.85, for a total transaction of $127,604.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,354,783 shares of company stock valued at $57,100,375. 13.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings 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 purchasing an additional 717 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Barracuda Networks during the 2nd quarter worth approximately $113,000. Legal & General Group Plc raised its holdings 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 purchasing an additional 828 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Barracuda Networks by 2.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 177 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Barracuda Networks by 17.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after purchasing an additional 1,104 shares during the last quarter. Hedge funds and other institutional investors own 65.96% 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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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.

Leave a Reply