Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating reiterated by equities researchers at KeyCorp in a research report issued to clients and investors on Friday. They presently have a $30.00 price target on the communications equipment provider’s stock. KeyCorp’s price target suggests a potential upside of 33.81% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 target price on shares of Barracuda Networks in a report on Tuesday, September 12th. BTIG Research reaffirmed a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a report on Thursday, July 13th. Robert W. Baird reissued a “buy” rating and issued a $29.00 price target on shares of Barracuda Networks in a report on Tuesday, October 24th. BidaskClub lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. Finally, Zacks Investment Research lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $28.10.
Barracuda Networks (CUDA) opened at $22.42 on Friday. Barracuda Networks has a twelve month low of $19.06 and a twelve month high of $26.16. The company has a market cap of $1,194.56, a price-to-earnings ratio of 72.32, a P/E/G ratio of 5.98 and a beta of 3.22.
Barracuda Networks (NYSE:CUDA) last released its earnings results 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 analyst estimates of $93.32 million. During the same quarter last year, the firm earned $0.21 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. equities analysts predict that Barracuda Networks will post 0.31 earnings per share for the current year.
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In related news, Director Michael D. Perone sold 236,987 shares of Barracuda Networks stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $24.02, for a total transaction of $5,692,427.74. Following the completion of the transaction, the director now directly owns 2,988,898 shares of the company’s stock, valued at approximately $71,793,329.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dustin Driggs sold 1,250 shares of Barracuda Networks stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.10, for a total transaction of $28,875.00. Following the transaction, the chief financial officer now directly owns 102,905 shares of the company’s stock, valued at $2,377,105.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,062,431 shares of company stock valued at $75,302,664. Corporate insiders own 13.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased 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 valued at $111,000 after purchasing an additional 717 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in Barracuda Networks during the 2nd quarter valued at about $113,000. Legal & General Group Plc increased 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 valued at $140,000 after purchasing an additional 828 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Barracuda Networks during the 3rd quarter valued at about $162,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake 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 valued at $167,000 after purchasing an additional 1,104 shares in the last quarter. Institutional investors and hedge funds own 65.59% of the company’s stock.
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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