J P Morgan Chase & Co lowered shares of Barracuda Networks (NYSE:CUDA) from an overweight rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat reports. J P Morgan Chase & Co currently has $27.55 price objective on the communications equipment provider’s stock.

Other equities analysts have also issued reports about the stock. Robert W. Baird reiterated a buy rating and issued a $29.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. KeyCorp reiterated a buy rating and issued a $30.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. Rosenblatt Securities reiterated a buy rating and issued a $30.00 price objective on shares of Barracuda Networks in a research report on Monday, October 9th. Needham & Company LLC reiterated a buy rating and issued a $28.00 price objective on shares of Barracuda Networks in a research report on Tuesday, September 12th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $32.00 price objective on shares of Barracuda Networks in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $27.60.

Barracuda Networks (NYSE CUDA) opened at $27.52 on Tuesday. The stock has a market cap of $1,475.71, a P/E ratio of 88.81, a PEG ratio of 7.34 and a beta of 3.28. Barracuda Networks has a 1 year low of $19.06 and a 1 year high of $27.95.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The firm had revenue of $94.30 million for the quarter, compared to analyst estimates of $93.32 million. During the same period last year, the firm posted $0.21 EPS. Barracuda Networks’s quarterly revenue was up 7.3% on a year-over-year basis. analysts forecast that Barracuda Networks will post 0.31 EPS for the current fiscal year.

In other Barracuda Networks news, Director Michael D. Perone sold 322,898 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $24.50, for a total transaction of $7,911,001.00. Following the sale, the director now directly owns 2,361,012 shares in the company, valued at approximately $57,844,794. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Perone sold 253,629 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $24.33, for a total transaction of $6,170,793.57. Following the sale, the director now owns 2,151,074 shares in the company, valued at $52,335,630.42. The disclosure for this sale can be found here. Insiders have sold a total of 1,879,289 shares of company stock worth $46,711,195 over the last 90 days. Insiders own 13.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC raised its stake in shares of Barracuda Networks by 63.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 44,200 shares of the communications equipment provider’s stock worth $1,019,000 after buying an additional 17,200 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Barracuda Networks by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,393,043 shares of the communications equipment provider’s stock worth $32,123,000 after buying an additional 129,425 shares during the last quarter. Swiss National Bank raised its stake in shares of Barracuda Networks by 51.9% during the 2nd quarter. Swiss National Bank now owns 61,500 shares of the communications equipment provider’s stock worth $1,418,000 after buying an additional 21,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Barracuda Networks by 7.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,934,104 shares of the communications equipment provider’s stock worth $67,660,000 after buying an additional 204,731 shares during the last quarter. Finally, Cipher Capital LP raised its stake in shares of Barracuda Networks by 91.8% during the 3rd quarter. Cipher Capital LP now owns 141,874 shares of the communications equipment provider’s stock worth $3,437,000 after buying an additional 67,893 shares during the last quarter. 75.79% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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