Barracuda Networks Inc (CUDA) is Downgraded by JMP Securities to Mkt Underperform

Barracuda Networks Inc (CUDA) was Downgraded by JMP Securities to ” Mkt Underperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. JMP Securities advised their investors in a research report released on Jun 6, 2016.

Many Wall Street Analysts have commented on Barracuda Networks Inc. Company shares were Reiterated by Imperial Capital on May 3, 2016 to “In-line”, Firm has raised the Price Target to $ 16 from a previous price target of $12 .Company shares were Reiterated by Imperial Capital on May 2, 2016 to “In-line”, Firm has raised the Price Target to $ 16 from a previous price target of $12 .

On the company’s financial health, Barracuda Networks Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.08. The company had revenue of $83.70 million for the quarter, compared to analysts expectations of $80.87 million. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

Barracuda Networks Inc closed down -0.04 points or -0.23% at $17.46 with 2,59,154 shares getting traded on Friday. Post opening the session at $17.51, the shares hit an intraday low of $17.3 and an intraday high of $17.65 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 2, 2016, Michael D Hughes (SVP, Worldwide Sales) sold 6,900 shares at $18.03 per share price. According to the SEC, on Mar 16, 2016, David Faugno (Chief Financial Officer) sold 2,200 shares at $30.09 per share price. On Mar 10, 2016, Zachary S Levow (director) sold 3,802 shares at $42.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Barracuda Networks Inc. (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services which enable continuous software updates offsite redundancy and distributed capacity and are offered on a subscription basis. Its solutions are delivered as cloud-connected appliances and virtual appliances as well as cloud-only solutions. Its cloud-only solutions are designed for customers who cannot or do not wish to deploy additional on-premises infrastructure. The Company’s appliances and virtual appliances leverage its cloud services to deliver hybrid cloud-connected solutions to its customers. Its security offerings include e-mail security Web security next-generation firewall application security and integrated network security among others.

Barracuda Networks Inc

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