Barracuda Networks Inc (CUDA) Receives $28.51 Consensus Target Price

Marco Green
December 1, 2017

Price T Rowe Md has invested 0% of its portfolio in Barracuda Networks, Inc. (NYSE:CUDA) stock have made investors to juggle around with their spending.

In recent action, Barracuda Networks, Inc.

The High Revenue estimate is predicted as 94590, while the Low Revenue Estimate prediction stands at 92500. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.15 by $0.04. (NYSE:CUDA) to report earnings on January, 8.

Barracuda Networks, Inc. on 8/30/2017 reported its EPS as $0.22 with the analysts projecting the EPS of the stock as $0.14. Barracuda Networks, Inc. (CUDA) has risen 38.20% since November 30, 2016 and is uptrending. The firm had revenue of $94.30 million for the quarter, compared to analysts' expectations of $93.32 million.

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Shares of Barracuda Networks (NYSE:CUDA) were decreased to a "Neutral" by investment analysts at BTIG Research. BidaskClub lowered shares of Barracuda Networks from a sell rating to a strong sell rating in a report on Friday, August 11th. Finally, J P Morgan Chase & Co reiterated a buy rating and set a $35.00 price objective on shares of Barracuda Networks in a report on Wednesday, October 11th. KeyCorp reaffirmed a "buy" rating and set a $30.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 target price on shares of Barracuda Networks in a research note on Tuesday, September 12th.

Among 23 analysts covering Barracuda Networks (NYSE:CUDA), 8 have Buy rating, 0 Sell and 15 Hold. The stock presently has an average rating of "Buy" and a consensus price target of $28.10.

In other Barracuda Networks news, SVP Michael D. Hughes sold 2,015 shares of Barracuda Networks stock in a transaction that occurred on Tuesday, October 17th. Following the completion of the sale, the chief financial officer now owns 103,093 shares of the company's stock, valued at $2,477,324.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

In related news, CMO Michael D. Perone sold 53,034 shares of the business's stock in a transaction dated Monday, February 27th. The disclosure for this sale can be found here. That value represents a market adjusting for revenues that have been growing by 7.27 % on a quarterly year/year basis as of the company's last quarterly report.

A number of large investors have recently modified their holdings of the business. It fall, as 32 investors sold Barracuda Networks, Inc. shares while 44 reduced holdings. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider's stock valued at $111,000 after purchasing an additional 717 shares in the last quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider's stock worth $140,000 after buying an additional 828 shares during the last quarter. Alyeska Investment Group L.P. now owns 960,874 shares of the communications equipment provider's stock worth $20,592,000 after buying an additional 211,059 shares during the last quarter. Ameritas Invest Partners Inc holds 0% in Barracuda Networks, Inc. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider's stock worth $167,000 after buying an additional 1,104 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Barracuda Networks by 355.0% in the fourth quarter. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 5.28% with $42.33 Million sitting short, betting on future declines. Corporate insiders own 39.60% of the company's stock. (NASDAQ:RTRX). 40,900 are owned by State Common Retirement Fund. Manufacturers Life Insurance Com The stated it has 0% in Retrophin, Inc.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by StockNewsTimes and is the sole property of of StockNewsTimes. Federated Investors Inc. PA increased its position in shares of Barracuda Networks by 277.3% in the fourth quarter. (NYSE:CUDA) traded down -0.25% in the last session while performance was up 27.57% in the last five days. The stock is trading $23.55 its 50-day moving average by -4.02%.

Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $27.75.

In the past 5 years, the stock showed growth of 71.87% per annum.

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