William Blair Comments on Barracuda Networks Inc’s FY2018 Earnings (CUDA)

Barracuda Networks Inc (NYSE:CUDA) – Analysts at William Blair lifted their FY2018 EPS estimates for Barracuda Networks in a research note issued to investors on Tuesday. William Blair analyst J. Ader now anticipates that the communications equipment provider will post earnings per share of $0.31 for the year, up from their previous forecast of $0.28.

Other analysts also recently issued reports about the stock. Robert W. Baird restated a “buy” rating and issued a $29.00 target price on shares of Barracuda Networks in a report on Wednesday, October 11th. JPMorgan Chase & Co. restated a “buy” rating and issued a $35.00 target price on shares of Barracuda Networks in a report on Wednesday, October 11th. KeyCorp restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a report on Wednesday, October 11th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a report on Monday, October 9th. Finally, Stephens downgraded shares of Barracuda Networks from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $28.19.

Barracuda Networks (NYSE:CUDA) remained flat at $$27.50 during trading on Friday. The stock had a trading volume of 545,145 shares, compared to its average volume of 1,177,709. Barracuda Networks has a twelve month low of $19.06 and a twelve month high of $27.95. The stock has a market capitalization of $1,475.99, a P/E ratio of 98.21, a P/E/G ratio of 7.24 and a beta of 3.28.

In related news, SVP Michael D. Hughes sold 2,015 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total transaction of $45,539.00. Following the transaction, the senior vice president now directly owns 155,033 shares in the company, valued at approximately $3,503,745.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Hughes sold 1,390 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $21.97, for a total transaction of $30,538.30. Following the transaction, the senior vice president now owns 155,118 shares in the company, valued at $3,407,942.46. The disclosure for this sale can be found here. Insiders have sold a total of 4,655 shares of company stock worth $104,952 over the last quarter. 13.90% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in CUDA. Victory Capital Management Inc. boosted its position in Barracuda Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 717 shares during the period. Pinebridge Investments L.P. purchased a new stake in Barracuda Networks in the 3rd quarter valued at about $121,000. Legal & General Group Plc boosted its position in Barracuda Networks by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 828 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in Barracuda Networks in the 3rd quarter valued at about $162,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in Barracuda Networks by 17.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock valued at $167,000 after buying an additional 1,104 shares during the period. 75.79% of the stock is owned by institutional investors.

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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.

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