Barracuda Networks Inc (NYSE:CUDA) – Stock analysts at William Blair boosted their FY2018 EPS estimates for Barracuda Networks in a research report issued on Tuesday, according to Zacks Investment Research. William Blair analyst J. Ader now forecasts that the communications equipment provider will post earnings per share of $0.31 for the year, up from their previous forecast of $0.28.
Barracuda Networks (NYSE:CUDA) last issued its earnings results on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Barracuda Networks had a return on equity of 74.59% and a net margin of 4.09%.
Several other analysts also recently weighed in on the company. Imperial Capital boosted their price objective on Barracuda Networks from $22.00 to $27.55 and gave the company a “line” rating in a research report on Wednesday, January 10th. Robert W. Baird downgraded Barracuda Networks from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Tuesday, January 9th. Zacks Investment Research upgraded Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. JPMorgan Chase & Co. downgraded Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 price objective for the company. in a research report on Tuesday, December 12th. Finally, Stephens downgraded Barracuda Networks from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $28.19.
Shares of Barracuda Networks (NYSE:CUDA) traded up $0.01 on Friday, reaching $27.55. The company’s stock had a trading volume of 1,181,720 shares, compared to its average volume of 938,163. The stock has a market capitalization of $1,478.00, a price-to-earnings ratio of 98.39, a P/E/G ratio of 7.28 and a beta of 3.28. Barracuda Networks has a 1-year low of $19.06 and a 1-year high of $27.95.
A number of hedge funds have recently modified their holdings of CUDA. ETF Managers Group LLC purchased a new stake in Barracuda Networks in the second quarter worth $44,968,000. Renaissance Technologies LLC grew its stake in Barracuda Networks by 35.5% in the second quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock worth $35,473,000 after purchasing an additional 402,605 shares during the period. Principal Financial Group Inc. grew its stake in Barracuda Networks by 1,011.8% in the third quarter. Principal Financial Group Inc. now owns 333,588 shares of the communications equipment provider’s stock worth $8,083,000 after purchasing an additional 303,583 shares during the period. Ameriprise Financial Inc. grew its stake in Barracuda Networks by 86.5% in the third quarter. Ameriprise Financial Inc. now owns 605,659 shares of the communications equipment provider’s stock worth $14,675,000 after purchasing an additional 280,887 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Barracuda Networks by 157.0% in the third quarter. Bank of New York Mellon Corp now owns 401,622 shares of the communications equipment provider’s stock worth $9,731,000 after purchasing an additional 245,353 shares during the period. 75.69% of the stock is currently owned by institutional investors.
In related news, SVP Michael D. Hughes sold 1,390 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was 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 in the company, valued at $3,407,942.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Dustin Driggs sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.10, for a total value of $28,875.00. Following the transaction, the chief financial officer now owns 102,905 shares of the company’s stock, valued at approximately $2,377,105.50. The disclosure for this sale can be found here. 13.90% of the stock is owned by corporate insiders.
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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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