Barracuda Networks (CUDA) has risen sharply, recording gains of 4.03% in the past 4 weeks. However, the stock has corrected -5% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.97% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.96% and the 50-Day Moving Average is 14.71%. Barracuda Networks (NYSE:CUDA): On Fridays trading session , Opening price of the stock was $21.39 with an intraday high of $21.7. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $20.14. However, the stock managed to close at $20.9, a loss of 5.34% for the day. On the previous day, the stock had closed at $22.08. The total traded volume of the day was 722,432 shares.
The company Insiders own 39.6% of Barracuda Networks shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -3.3% . Institutional Investors own 55.48% of Barracuda Networks shares. During last six month period, the net percent change held by insiders has seen a change of -3.3%. Also, In a research note released to the investors, DA Davidson downgrades its rating on Barracuda Networks (NYSE:CUDA).The analysts at the brokerage house have a current rating of Underperform on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. In a recent information released to the investors, DA Davidson raises the new price target from $17 per share to $19.5 per share. The rating by the firm was issued on August 12, 2016.
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 Companys 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 Companys 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.