Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Sunday, October 15th.
The analysts wrote, “We spent time with several teenagers this week to better understand how they used the social media platforms. It was eye-opening how engaged the teenagers were with Snapchat. Snapchat was by far their favorite social media platform, followed by Instagram, and Facebook. The teens pointed to the Maps feature on Snapchat as one of their favorites. What’s more, all stated that they plan to continue using the app in college and beyond. Instagram was a close second with all the teens believing that Instagram has done an effective job mimicking the Snapchat features. Several teens used the word boring” to describe Facebook and they all stated that their time spent on Facebook had diminished over the past year. However, they maintain a presence on the platform and check in often, primarily for news and events.””
CUDA has been the subject of several other reports. Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, July 13th. BidaskClub raised shares of Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Friday, September 8th. Robert W. Baird reissued a “buy” rating and set a $29.00 price target on shares of Barracuda Networks in a report on Wednesday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a report on Tuesday, September 12th. Finally, Pacific Crest reissued an “overweight” rating and set a $30.00 price target on shares of Barracuda Networks in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.10.
Shares of Barracuda Networks (NYSE CUDA) opened at 23.62 on Friday. The firm’s 50-day moving average price is $23.97 and its 200 day moving average price is $22.87. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 138.94 and a beta of 3.27. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $26.16.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $94.30 million during the quarter, compared to analysts’ expectations of $93.32 million. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. On average, analysts predict that Barracuda Networks will post $0.75 earnings per share for the current year.
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In other Barracuda Networks news, SVP Michael D. Hughes sold 2,015 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total transaction of $45,539.00. Following the transaction, the senior vice president now owns 155,033 shares of the company’s stock, valued at $3,503,745.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael D. Perone sold 236,987 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $71,793,329.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,062,431 shares of company stock worth $75,302,076. 13.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CUDA. Victory Capital Management Inc. boosted its holdings in shares of Barracuda Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 717 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Barracuda Networks in the 2nd quarter valued at about $113,000. Legal & General Group Plc boosted its holdings in shares of Barracuda Networks by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 828 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Barracuda Networks by 2.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock valued at $146,000 after buying an additional 177 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Barracuda Networks by 17.6% in 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 buying an additional 1,104 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.
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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