Barracuda Networks Inc (CUDA) Releases Earnings Results, Beats Expectations By $0.08 EPS

Barracuda Networks Inc (CUDA) announced its most recent quarterly financial results on Tuesday, Oct-11-2016. CUDA said it had a profit of $0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.13. The company posted revenue of $87.90 million in the period, compared to analysts expectations of $85.28 million. CUDA’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Barracuda Networks Inc. Company shares were Downgraded by Imperial Capital on Oct 4, 2016 to ” Underperform”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .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.

Barracuda Networks Inc closed down -0.81 points or -3.29% at $23.83 with 4,06,094 shares getting traded on Friday. Post opening the session at $24.58, the shares hit an intraday low of $23.62 and an intraday high of $24.75 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Oct 4, 2016, Michael D Hughes (SVP, Worldwide Sales) sold 4,468 shares at $25.05 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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