The stock of Barracuda Networks Inc (NYSE:CUDA) is a huge mover today! About 2.91M shares traded hands or 614.89% up from the average. Barracuda Networks Inc (NYSE:CUDA) has risen 69.30% since March 9, 2016 and is uptrending. It has outperformed by 61.89% the S&P500.
The move comes after 7 months positive chart setup for the $1.31 billion company. It was reported on Oct, 12 by Barchart.com. We have $34.25 PT which if reached, will make NYSE:CUDA worth $419.20 million more.
Barracuda Networks Inc (NYSE:CUDA) Ratings Coverage
Out of 17 analysts covering Barracuda Networks (NYSE:CUDA), 7 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 41% are positive. Barracuda Networks has been the topic of 37 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock of Barracuda Networks Inc (NYSE:CUDA) earned “Buy” rating by BTIG Research on Thursday, September 10. The firm has “Neutral” rating by Macquarie Research given on Wednesday, September 30. Pacific Crest upgraded the stock to “Overweight” rating in Tuesday, August 30 report. As per Friday, May 20, the company rating was initiated by Northland Capital. The firm earned “Buy” rating on Friday, January 8 by Topeka Capital Markets. The company was initiated on Friday, October 30 by BWS Financial. The rating was initiated by Stifel Nicolaus on Tuesday, September 29 with “Buy”. William Blair downgraded the shares of CUDA in a report on Friday, January 8 to “Market Perform” rating. Guggenheim downgraded Barracuda Networks Inc (NYSE:CUDA) on Wednesday, January 20 to “Neutral” rating. Imperial Capital downgraded Barracuda Networks Inc (NYSE:CUDA) rating on Tuesday, October 4. Imperial Capital has “Underperform” rating and $20 price target.
According to Zacks Investment Research, “Barracuda Networks, Inc. is engaged in designing and delivering security and storage solutions. Its products span three distinct markets, including: 1) content security, 2) networking and application delivery and 3) data storage, protection and disaster recovery. It offers cloud-connected solutions that help its customers address security threats, enhance network performance, and protect and store their data. Barracuda Networks, Inc. is headquartered in Campbell, California.”
Insitutional Activity: The institutional sentiment increased to 1.7 in Q2 2016. Its up 0.88, from 0.82 in 2016Q1. The ratio increased, as 17 funds sold all Barracuda Networks Inc shares owned while 23 reduced positions. 25 funds bought stakes while 43 increased positions. They now own 27.12 million shares or 0.76% less from 27.33 million shares in 2016Q1.
Teacher Retirement Of Texas has invested 0% of its portfolio in Barracuda Networks Inc (NYSE:CUDA). Legal General Group Inc Incorporated Public Limited Co holds 0% of its portfolio in Barracuda Networks Inc (NYSE:CUDA) for 1,565 shares. Spot Trading Lc accumulated 0% or 4,233 shares. Millennium Mngmt Limited Liability Corporation accumulated 114,054 shares or 0% of the stock. Belmont Global Advsr accumulated 0.44% or 30,000 shares. Manufacturers Life Insur The reported 88,542 shares or 0% of all its holdings. Invesco Limited holds 0% or 51,264 shares in its portfolio. Fuller And Thaler Asset Inc last reported 413,750 shares in the company. Spark Investment Management Ltd Liability Corp last reported 44,800 shares in the company. Credit Suisse Ag owns 102,381 shares or 0% of their US portfolio. New York State Common Retirement Fund holds 0% or 22,500 shares in its portfolio. Scgf Iii Ltd has invested 37.52% of its portfolio in Barracuda Networks Inc (NYSE:CUDA). Connor Clark Lunn Mgmt Ltd holds 0% of its portfolio in Barracuda Networks Inc (NYSE:CUDA) for 23,400 shares. The Colorado-based Arrowpoint Asset Mgmt Ltd Liability has invested 0.79% in Barracuda Networks Inc (NYSE:CUDA). Pnc Service Grp holds 0% of its portfolio in Barracuda Networks Inc (NYSE:CUDA) for 1,682 shares.
Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 18 sales for $13.97 million net activity. ALLEN JEFFRY R sold $132,862 worth of Barracuda Networks Inc (NYSE:CUDA) on Friday, July 22. $111,923 worth of shares were sold by Hughes Michael D on Monday, October 3. Drako Dean M had sold 24,240 shares worth $385,941. 25,000 shares were sold by Faugno David, worth $497,500. $80,920 worth of Barracuda Networks Inc (NYSE:CUDA) was sold by Jenkins William D Jr on Friday, July 15.
More notable recent Barracuda Networks Inc (NYSE:CUDA) news were published by: Investorplace.com which released: “3 Stocks to Watch on Wednesday: Barracuda Networks Inc (CUDA), Blackhawk …” on October 12, 2016, also Nasdaq.com with their article: “Earnings Reaction History: Barracuda Networks, Inc., 55.6% Follow-Through …” published on October 11, 2016, Fool.com published: “Why Barracuda Networks Inc. Is Swooning in 2016” on June 29, 2016. More interesting news about Barracuda Networks Inc (NYSE:CUDA) were released by: Fool.com and their article: “How Barracuda Networks, Inc. Gained 46% in July” published on August 11, 2016 as well as Fool.com‘s news article titled: “3 Reasons Barracuda Networks, Inc. Stock Could Rise” with publication date: May 24, 2016.
CUDA Company Profile
Barracuda Networks, Inc., incorporated on November 17, 2004, creates and delivers security and data protection solutions. The Firm offers cloud-enabled solutions that enable clients to address security threats, manage network performance, and protect and store their data. The Company’s solutions are designed to manage information technology (IT) activities for its customers. The Company’s subscription security and data protection solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity. The Company’s solutions are delivered as cloud-enabled appliances and virtual appliances, as well as cloud-only solutions. The Company’s appliances and virtual appliances leverage its cloud services to deliver hybrid cloud-enabled solutions to its customers. These hybrid solutions enable it to optimize usage of on-premises hardware required while simultaneously leveraging the cloud. The Company’s data protection solutions are designed to backup and archive business-critical data and make such data accessible for purposes, such as compliance, disaster recovery and business intelligence. The Company’s data protection solutions also allow users to access and sign files from Internet-connected devices. The Company’s solutions can be managed centrally in any size or type of deployment through integrated Web interfaces that support configuration, monitoring and reporting.
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