Barracuda Networks Inc (CUDA) is Initiated by Rosenblatt to Buy, Price Target at $30

Barracuda Networks Inc (CUDA) was Initiated by Rosenblatt to “Buy” and the brokerage firm has set the Price Target at $30. Rosenblatt advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Barracuda Networks Inc. Company shares were Reiterated by Imperial Capital on Jul 12, 2016 to “In-line”, Firm has raised the Price Target to $ 17 from a previous price target of $15 .Shares were Reiterated by Imperial Capital on Jun 30, 2016 to “In-line” and Lowered the Price Target to $ 15 from a previous price target of $16 .Barracuda Networks Inc was Downgraded by JMP Securities to ” Mkt Underperform” on Jun 6, 2016.

On the company’s financial health, Barracuda Networks Inc reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 7, 2016. Analyst had a consensus of $0.11. The company had revenue of $86.70 million for the quarter, compared to analysts expectations of $83.92 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Barracuda Networks Inc closed down -0.36 points or -1.60% at $22.08 with 10,66,865 shares getting traded on Friday. Post opening the session at $22.35, the shares hit an intraday low of $21.45 and an intraday high of $22.35 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 19, 2016, Michael D Hughes (SVP, Worldwide Sales) sold 5,000 shares at $20.23 per share price. According to the SEC, on Jul 19, 2016, William D Jr Jenkins (Chief Executive Officer) sold 4,000 shares at $20.23 per share price. On Jul 18, 2016, David Faugno (Chief Financial Officer) sold 25,000 shares at $19.90 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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