Brokerages predict that Barracuda Networks, Inc. (NYSE:CUDA) will announce $93.85 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Barracuda Networks’ earnings. The highest sales estimate is $94.55 million and the lowest is $93.22 million. Barracuda Networks reported sales of $88.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The firm is scheduled to report its next earnings report on Monday, January 8th.
On average, 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 year, analysts anticipate that the business will post sales of $406.32 million per share, with estimates ranging from $399.40 million to $415.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Barracuda Networks.
Barracuda Networks (NYSE:CUDA) last released its earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The firm had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis.
CUDA has been the topic of a number of recent research reports. BidaskClub raised Barracuda Networks from a “strong sell” rating to a “sell” rating in a research note on Friday, September 8th. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Monday, October 9th. Robert W. Baird reissued a “buy” rating and issued a $29.00 target price 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. Finally, KeyCorp reaffirmed a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. 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 the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $22.60, for a total value of $45,539.00. Following the completion of the sale, the senior vice president now owns 155,033 shares in the company, valued at $3,503,745.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael D. Perone sold 108,258 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $25.77, for a total value of $2,789,808.66. Following the completion of the sale, the director now owns 1,378,038 shares of the company’s stock, valued at approximately $35,512,039.26. The disclosure for this sale can be found here. In the last three months, insiders sold 2,667,559 shares of company stock worth $65,815,738. 13.90% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Barracuda Networks by 7.5% in the second 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 in the last quarter. Systematic Financial Management LP increased its position in Barracuda Networks by 24.4% in the second quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock worth $50,094,000 after buying an additional 426,715 shares in the last quarter. ETF Managers Group LLC purchased a new stake in Barracuda Networks in the second quarter worth about $44,968,000. Renaissance Technologies LLC increased its position in Barracuda Networks by 35.5% in the second quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock worth $35,473,000 after buying an additional 402,605 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Barracuda Networks by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,462,802 shares of the communications equipment provider’s stock worth $35,443,000 after buying an additional 69,759 shares in the last quarter. Institutional investors and hedge funds own 68.10% of the company’s stock.
Barracuda Networks (NYSE:CUDA) traded up $0.34 during midday trading on Friday, hitting $22.87. The stock had a trading volume of 777,898 shares, compared to its average volume of 786,944. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $26.16. The stock has a market capitalization of $1,200.00, a PE ratio of 71.13, a P/E/G ratio of 5.88 and a beta of 3.22.
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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