Barracuda Networks, Inc. (CUDA) Rating Reiterated by KeyCorp

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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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