BidaskClub upgraded shares of Barracuda Networks, Inc. (NYSE:CUDA) from a sell rating to a hold rating in a research note issued to investors on Friday.

Several other brokerages also recently issued reports on CUDA. Stifel Nicolaus reiterated a buy rating and issued a $32.00 price target on shares of Barracuda Networks in a report on Wednesday, July 19th. Robert W. Baird reiterated a buy rating and issued a $29.00 price target on shares of Barracuda Networks in a report on Wednesday, October 11th. Rosenblatt Securities reiterated a buy rating on shares of Barracuda Networks in a report on Sunday, October 15th. Northland Securities reissued a buy rating and issued a $28.00 price objective on shares of Barracuda Networks in a research report on Friday, June 30th. Finally, BTIG Research reissued a buy rating and issued a $30.00 price objective on shares of Barracuda Networks in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $28.10.

Barracuda Networks (CUDA) opened at 23.04 on Friday. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $26.16. The company has a 50-day moving average price of $23.91 and a 200-day moving average price of $22.87. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 135.53 and a beta of 3.27.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The firm had revenue of $94.30 million during the quarter, compared to the consensus estimate of $93.32 million. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Barracuda Networks will post $0.75 earnings per share for the current year.

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In other Barracuda Networks news, CEO William D. Jenkins, Jr. sold 16,500 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $24.00, for a total value of $396,000.00. Following the transaction, the chief executive officer now owns 604,608 shares of the company’s stock, valued at $14,510,592. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Perone sold 236,987 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $24.02, for a total transaction of $5,692,427.74. Following the completion of the transaction, the director now directly owns 2,988,898 shares in the company, valued at approximately $71,793,329.96. The disclosure for this sale can be found here. Insiders have sold 3,061,181 shares of company stock worth $75,273,789 in the last ninety days. Corporate insiders own 13.90% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Barracuda Networks by 7.5% in the second quarter. Vanguard Group Inc. now owns 2,934,104 shares of the communications equipment provider’s stock valued at $67,660,000 after purchasing an additional 204,731 shares during the period. Systematic Financial Management LP increased its stake in shares of Barracuda Networks by 24.4% in the second quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock valued at $50,094,000 after purchasing an additional 426,715 shares during the period. Clearbridge Investments LLC increased its stake in shares of Barracuda Networks by 0.8% in the first quarter. Clearbridge Investments LLC now owns 2,034,008 shares of the communications equipment provider’s stock valued at $47,006,000 after purchasing an additional 16,324 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Barracuda Networks in the second quarter valued at approximately $44,968,000. Finally, Renaissance Technologies LLC increased its stake in shares of 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 valued at $35,473,000 after purchasing an additional 402,605 shares during the period. Institutional investors own 65.55% of the company’s stock.

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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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