Barracuda Networks, Inc. (NYSE:CUDA) announced its quarterly earnings results on Monday. The communications equipment provider reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18, Briefing.com reports. The business had revenue of $94.18 million for the quarter, compared to analyst estimates of $91.18 million. Barracuda Networks had a negative return on equity of 224.23% and a net margin of 2.90%. Barracuda Networks’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. Barracuda Networks updated its FY18 guidance to $0.73-0.78 EPS and its Q2 guidance to $0.16-0.18 EPS.
Barracuda Networks (NYSE CUDA) traded up 0.63% during midday trading on Monday, hitting $24.00. The stock had a trading volume of 2,615,081 shares. The company’s 50-day moving average price is $22.41 and its 200 day moving average price is $22.65. Barracuda Networks has a 52 week low of $17.50 and a 52 week high of $26.69. The company has a market capitalization of $1.27 billion, a PE ratio of 126.32 and a beta of 3.33.
In other news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $22.85, for a total value of $28,562.50. Following the transaction, the chief financial officer now owns 104,221 shares in the company, valued at approximately $2,381,449.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Diane Honda sold 7,026 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 100,085 shares in the company, valued at approximately $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 valued at $515,273 in the last quarter. Company insiders own 13.90% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece of content was first published by WKRB News and is the sole property of of WKRB News. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.wkrb13.com/markets/2286467/barracuda-networks-inc-cuda-posts-quarterly-earnings-results-hits-expectations.html.
CUDA has been the topic of several recent analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Monday, March 13th. Imperial Capital reaffirmed an “underperform” rating and issued a $21.00 price target on shares of Barracuda Networks in a research note on Sunday, April 9th. Robert W. Baird reaffirmed a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, April 18th. DA Davidson cut their price objective on Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, April 18th. 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, April 18th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $26.78.
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.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2286467/barracuda-networks-inc-cuda-posts-quarterly-earnings-results-hits-expectations.html
Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.