Barracuda Networks, Inc. (CUDA) Issues FY18 Earnings Guidance

Barracuda Networks, Inc. (NYSE:CUDA) issued an update on its FY18 earnings guidance on Monday morning. The company provided EPS guidance of $0.73-0.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.77. The company issued revenue guidance of $370-380 million, compared to the consensus revenue estimate of $376.86 million.Barracuda Networks also updated its Q2 guidance to $0.16-0.18 EPS.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) traded up 0.63% during mid-day trading on Monday, reaching $24.00. The company had a trading volume of 2,615,081 shares. The stock has a market capitalization of $1.27 billion, a P/E ratio of 126.32 and a beta of 3.33. Barracuda Networks, Inc. has a one year low of $17.50 and a one year high of $26.69. The firm has a 50 day moving average of $22.41 and a 200-day moving average of $22.65.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Barracuda Networks had a negative return on equity of 224.23% and a net margin of 2.90%. The firm had revenue of $94.18 million during the quarter, compared to analyst estimates of $91.18 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts forecast that Barracuda Networks, Inc. will post $0.77 EPS for the current fiscal year.

A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Barracuda Networks from a hold rating to a sell rating in a research note on Thursday, April 20th. Pacific Crest restated an overweight rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Wednesday, June 28th. Stifel Nicolaus restated a buy rating and issued a $32.00 target price on shares of Barracuda Networks in a research note on Tuesday, April 18th. Imperial Capital restated an underperform rating and issued a $21.00 target price on shares of Barracuda Networks in a research note on Sunday, April 9th. Finally, Rosenblatt Securities restated a buy rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Monday, June 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $26.78.

In related news, CFO Dustin Driggs sold 1,250 shares of Barracuda Networks stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $22.85, for a total value of $28,562.50. Following the sale, the chief financial officer now directly owns 104,221 shares in the company, valued at approximately $2,381,449.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Diane Honda sold 7,026 shares of Barracuda Networks stock in a transaction dated Saturday, July 1st. The stock was sold at an average price of $22.89, for a total value of $160,825.14. Following the completion of the sale, the vice president now owns 100,085 shares in the company, valued at $2,290,945.65. The disclosure for this sale can be found here. Insiders have sold a total of 23,062 shares of company stock worth $515,273 over the last 90 days. Insiders own 13.90% of the company’s stock.

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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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