Imperial Capital Analysts Reduce Earnings Estimates for Barracuda Networks Inc (CUDA)

Barracuda Networks Inc (NYSE:CUDA) – Stock analysts at Imperial Capital decreased their Q4 2018 earnings per share (EPS) estimates for Barracuda Networks in a note issued to investors on Wednesday. Imperial Capital analyst M. Kim now forecasts that the communications equipment provider will post earnings per share of $0.09 for the quarter, down from their previous forecast of $0.11. Imperial Capital has a “line” rating and a $27.55 price objective on the stock.

A number of other research firms also recently weighed in on CUDA. JPMorgan Chase & Co. downgraded Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 target price for the company. in a research report on Tuesday, December 12th. ValuEngine upgraded Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Needham & Company LLC downgraded Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Stephens downgraded Barracuda Networks from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 28th. Finally, Zacks Investment Research upgraded Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Barracuda Networks currently has a consensus rating of “Hold” and a consensus target price of $28.19.

Barracuda Networks (NYSE:CUDA) remained flat at $$27.50 during mid-day trading on Monday. The company’s stock had a trading volume of 342,146 shares, compared to its average volume of 1,350,000. The company has a market cap of $1,470.00, a P/E ratio of 98.21, a P/E/G ratio of 7.27 and a beta of 3.28. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $27.95.

Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Barracuda Networks had a return on equity of 74.59% and a net margin of 4.09%.

In other Barracuda Networks news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.10, for a total value of $28,875.00. Following the completion of the transaction, the chief financial officer now directly owns 102,905 shares of the company’s stock, valued at $2,377,105.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Hughes sold 1,390 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $21.97, for a total value of $30,538.30. Following the completion of the transaction, the senior vice president now directly owns 155,118 shares of the company’s stock, valued at $3,407,942.46. The disclosure for this sale can be found here. Corporate insiders own 13.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Piedmont Investment Advisors LLC acquired a new position in Barracuda Networks in the third quarter valued at about $212,000. Cubist Systematic Strategies LLC acquired a new position in shares of Barracuda Networks during the third quarter worth about $275,000. Segall Bryant & Hamill LLC boosted its position in shares of Barracuda Networks by 523.0% during the third quarter. Segall Bryant & Hamill LLC now owns 197,441 shares of the communications equipment provider’s stock worth $4,784,000 after buying an additional 165,748 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Barracuda Networks by 274.2% during the third quarter. Allianz Asset Management GmbH now owns 247,939 shares of the communications equipment provider’s stock worth $6,008,000 after buying an additional 181,678 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in Barracuda Networks by 147.8% during the third quarter. Engineers Gate Manager LP now owns 58,701 shares of the communications equipment provider’s stock worth $1,422,000 after acquiring an additional 35,014 shares in the last quarter. 75.69% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This article was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/01/17/imperial-capital-analysts-reduce-earnings-estimates-for-barracuda-networks-inc-cuda.html.

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.

Receive News & Ratings for Barracuda Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply