Barracuda Networks Inc (NYSE:CUDA) has received a consensus rating of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $27.73.
CUDA has been the topic of several research reports. Zacks Investment Research downgraded shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Piper Jaffray Companies downgraded shares of Barracuda Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, November 27th. Robert W. Baird downgraded shares of Barracuda Networks from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research report on Tuesday, January 9th. JPMorgan Chase & Co. downgraded shares of Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 price target on the stock. in a research report on Tuesday, December 12th. Finally, Imperial Capital upped their price target on shares of Barracuda Networks from $22.00 to $27.55 and gave the stock a “line” rating in a research report on Wednesday, January 10th.
Several hedge funds have recently made changes to their positions in CUDA. Sand Grove Capital Management LLP bought a new stake in shares of Barracuda Networks in the 4th quarter valued at about $35,329,000. Deutsche Bank AG increased its stake in shares of Barracuda Networks by 206.6% in the 4th quarter. Deutsche Bank AG now owns 1,829,189 shares of the communications equipment provider’s stock valued at $50,301,000 after acquiring an additional 1,232,657 shares during the last quarter. Water Island Capital LLC bought a new stake in Barracuda Networks during the 4th quarter worth approximately $32,304,000. Gabelli Funds LLC bought a new stake in Barracuda Networks during the 4th quarter worth approximately $18,279,000. Finally, Eaton Vance Management increased its stake in Barracuda Networks by 185.1% during the 4th quarter. Eaton Vance Management now owns 670,089 shares of the communications equipment provider’s stock worth $18,427,000 after purchasing an additional 435,024 shares in the last quarter. 75.84% of the stock is owned by institutional investors.
The company has a market cap of $1,480.00 and a P/E ratio of 98.36.
Barracuda Networks (NYSE:CUDA) last issued its quarterly 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). The company had revenue of $94.75 million for the quarter, compared to analyst estimates of $93.85 million. Barracuda Networks had a return on equity of 104.10% and a net margin of 8.21%. sell-side analysts predict that Barracuda Networks will post 0.31 earnings per share for the current year.
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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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