$93.85 Million in Sales Expected for Barracuda Networks, Inc. (CUDA) This Quarter
Wall Street analysts expect that Barracuda Networks, Inc. (NYSE:CUDA) will report $93.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Barracuda Networks’ earnings, with the highest sales estimate coming in at $94.55 million and the lowest estimate coming in at $93.22 million. Barracuda Networks reported sales of $88.81 million in the same quarter last year, which indicates a positive year over year growth rate of 5.7%. The business is scheduled to issue its next quarterly earnings results on Monday, January 8th.
According to Zacks, analysts expect that Barracuda Networks will report full-year sales of $93.85 million for the current fiscal year, with estimates ranging from $374.61 million to $379.82 million. For the next financial year, analysts forecast that the firm will report sales of $406.32 million per share, with estimates ranging from $399.40 million to $415.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Barracuda Networks.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. The firm had revenue of $94.30 million during the quarter, compared to the consensus estimate of $93.32 million. Barracuda Networks had a net margin of 1.65% and a return on equity of 38.68%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share.
CUDA has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Barracuda Networks from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 7th. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research report on Monday, October 9th. Finally, Robert W. Baird reiterated a “buy” rating and set a $29.00 price target on shares of Barracuda Networks in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Barracuda Networks currently has a consensus rating of “Buy” and a consensus target price of $28.10.
In other Barracuda Networks news, Director Michael D. Perone sold 598,000 shares of Barracuda Networks stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $25.72, for a total value of $15,380,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Jenkins, Jr. sold 16,500 shares of Barracuda Networks stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $24.02, for a total transaction of $396,330.00. Following the completion of the sale, the chief executive officer now directly owns 588,108 shares of the company’s stock, valued at $14,126,354.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,666,169 shares of company stock valued at $65,785,199. Corporate insiders own 13.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. ETF Managers Group LLC acquired a new position in shares of Barracuda Networks during the 2nd quarter valued at $44,968,000. Vanguard Group Inc. lifted its holdings in shares of Barracuda Networks by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock valued at $63,075,000 after acquiring an additional 436,541 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Barracuda Networks by 24.4% during the 2nd quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock valued at $50,094,000 after acquiring an additional 426,715 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Barracuda Networks by 35.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock valued at $35,473,000 after acquiring an additional 402,605 shares in the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Barracuda Networks during the 2nd quarter valued at $9,125,000. 65.84% of the stock is owned by institutional investors.
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Shares of Barracuda Networks (NYSE CUDA) opened at $22.05 on Friday. The company has a market cap of $1,162.60, a PE ratio of 70.39, a P/E/G ratio of 5.82 and a beta of 3.22. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $26.16.
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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