Somewhat Favorable News Coverage Somewhat Unlikely to Affect Barracuda Networks (CUDA) Stock Price
Headlines about Barracuda Networks (NYSE:CUDA) have been trending somewhat positive this week, Accern reports. Accern ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Barracuda Networks earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned news coverage about the communications equipment provider an impact score of 45.1062354640504 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news articles that may have impacted Accern’s rankings:
- Barracuda Networks, Inc. (CUDA) CFO Dustin Driggs Sells 5,135 Shares (americanbankingnews.com)
- Barracuda Networks, Inc. (CUDA) CEO William D. Jenkins, Jr. Sells 16,500 Shares (americanbankingnews.com)
- Michael D. Perone Sells 118,787 Shares of Barracuda Networks, Inc. (CUDA) Stock (americanbankingnews.com)
- Insider Selling: Barracuda Networks, Inc. (CUDA) Director Sells 54,054 Shares of Stock (americanbankingnews.com)
- Barracuda Networks, Inc. (CUDA) Director Sells $2,081,391.48 in Stock (americanbankingnews.com)
Shares of Barracuda Networks (NYSE:CUDA) traded up 1.91% during mid-day trading on Thursday, reaching $25.67. 562,266 shares of the company’s stock were exchanged. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 135.11 and a beta of 3.27. The stock’s 50-day moving average is $23.94 and its 200-day moving average is $22.83. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $26.69.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The firm had revenue of $94.18 million during the quarter, compared to analysts’ expectations of $91.18 million. During the same period in the previous year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Barracuda Networks will post $0.76 EPS for the current year.
Several research firms recently issued reports on CUDA. Northland Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of Barracuda Networks in a report on Friday, June 30th. BTIG Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a report on Wednesday, July 19th. Imperial Capital upped their price objective on shares of Barracuda Networks from $20.00 to $21.00 and gave the stock an “in-line” rating in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $28.00 price objective (down from $29.00) on shares of Barracuda Networks in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $26.59.
In other news, Director Michael D. Perone sold 403,060 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $24.13, for a total value of $9,725,837.80. Following the completion of the sale, the director now owns 3,112,640 shares of the company’s stock, valued at $75,108,003.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dustin Driggs sold 5,135 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $24.85, for a total transaction of $127,604.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,839,430 shares of company stock valued at $68,785,913. Company insiders own 13.90% 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.
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