Barracuda Networks Inc (CUDA) is Downgraded by Imperial Capital to Underperform, Raises Price Target to $ 20

Barracuda Networks Inc (CUDA) was Downgraded by Imperial Capital to ” Underperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $17 . Earlier the firm had a rating of “In-line ” on the company shares. Imperial Capital advised their investors in a research report released on Oct 4, 2016.

Many Wall Street Analysts have commented on Barracuda Networks Inc. Barracuda Networks Inc was Upgraded by Pacific Crest to ” Overweight” on Aug 30, 2016. DA Davidson Downgraded Barracuda Networks Inc on Aug 12, 2016 to ” Underperform”, Price Target of the shares are set at $19.50.Rosenblatt Initiated Barracuda Networks Inc on Aug 1, 2016 to “Buy”, Price Target of the shares are set at $30.

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 opened for trading at $25.08 and hit $25.62 on the upside on Friday, eventually ending the session at $25.48, with a gain of 2.58% or 0.64 points. The heightened volatility saw the trading volume jump to 4,10,794 shares. Company has a market cap of $1,328 M.

In a different news, on Sep 2, 2016, Michael D Hughes (SVP, Worldwide Sales) sold 4,468 shares at $23.33 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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