Brokerages Set Barracuda Networks Inc (CUDA) PT at $27.73

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.

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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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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