Barracuda Networks Inc (CUDA) Expected to Earn FY2018 Earnings of $0.31 Per Share

Barracuda Networks Inc (NYSE:CUDA) – Equities researchers at William Blair boosted their FY2018 earnings per share (EPS) estimates for Barracuda Networks in a research note issued on Tuesday. William Blair analyst J. Ader now anticipates that the communications equipment provider will post earnings of $0.31 per share for the year, up from their prior estimate of $0.28.

Several other analysts have also commented on CUDA. Imperial Capital raised their price objective on shares of Barracuda Networks from $22.00 to $27.55 and gave the stock a “line” rating in a report on Wednesday. Robert W. Baird lowered shares of Barracuda Networks from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Tuesday. KeyCorp restated a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Wednesday, October 11th. ValuEngine upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a report on Monday, November 27th. Finally, BTIG Research lowered shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Barracuda Networks has a consensus rating of “Hold” and a consensus target price of $28.19.

Shares of Barracuda Networks (NYSE CUDA) remained flat at $$27.50 on Friday. The stock had a trading volume of 545,145 shares, compared to its average volume of 1,177,709. Barracuda Networks has a 12 month low of $19.06 and a 12 month high of $27.95. The firm has a market capitalization of $1,475.99, a PE ratio of 98.21, a price-to-earnings-growth ratio of 7.24 and a beta of 3.28.

Several institutional investors and hedge funds have recently made changes to their positions in CUDA. Schwab Charles Investment Management Inc. increased its position in shares of Barracuda Networks by 81.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 346,753 shares of the communications equipment provider’s stock valued at $7,997,000 after acquiring an additional 155,891 shares in the last quarter. Rhumbline Advisers increased its position in shares of Barracuda Networks by 11.5% during the second quarter. Rhumbline Advisers now owns 26,330 shares of the communications equipment provider’s stock valued at $607,000 after acquiring an additional 2,718 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Barracuda Networks by 27.8% during the second quarter. Bank of New York Mellon Corp now owns 156,269 shares of the communications equipment provider’s stock valued at $3,603,000 after acquiring an additional 34,037 shares in the last quarter. Legal & General Group Plc increased its position in shares of Barracuda Networks by 15.7% during the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 828 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Barracuda Networks by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after acquiring an additional 717 shares in the last quarter. 75.79% of the stock is owned by institutional investors.

In other Barracuda Networks news, SVP Michael D. Hughes sold 1,390 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $21.97, for a total transaction of $30,538.30. Following the completion of the transaction, the senior vice president now owns 155,118 shares of the company’s stock, valued at $3,407,942.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael D. Hughes sold 2,015 shares of the firm’s 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 directly owns 155,033 shares of the company’s stock, valued at approximately $3,503,745.80. The disclosure for this sale can be found here. Insiders have sold 4,655 shares of company stock valued at $104,952 in the last ninety days. Insiders own 13.90% of the company’s stock.

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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.

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