The stock of Barracuda Networks Inc (NYSE:CUDA) hit a new 52-week high and has $40.50 target or 58.00% above today’s $25.63 share price. The 8 months bullish chart indicates low risk for the $1.30B company. The 1-year high was reported on Oct, 12 by Barchart.com. If the $40.50 price target is reached, the company will be worth $754.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.59M shares traded hands or 290.61% 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.
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 firm earned “Neutral” rating on Wednesday, September 30 by Macquarie Research. On Friday, October 30 the stock rating was initiated by BWS Financial with “Buy”. The company was maintained on Friday, January 8 by BWS Financial. The rating was maintained by Imperial Capital on Thursday, June 30 with “In-Line”. The company was upgraded on Tuesday, August 30 by Pacific Crest. The firm earned “Market Perform” rating on Friday, January 8 by William Blair. On Thursday, October 1 the stock rating was maintained by Topeka Capital Markets with “Buy”. As per Tuesday, September 29, the company rating was initiated by Stifel Nicolaus. On Friday, January 8 the stock rating was maintained by Stifel Nicolaus with “Buy”. The stock of Barracuda Networks Inc (NYSE:CUDA) earned “Buy” rating by BTIG Research on Friday, March 18.
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.
Moreover, Herald Invest Ltd has 1.46% invested in Barracuda Networks Inc (NYSE:CUDA) for 230,000 shares. Blackrock Grp Inc has invested 0% of its portfolio in Barracuda Networks Inc (NYSE:CUDA). Hershey Tru owns 19,827 shares or 0% of their US portfolio. Pacad Invest last reported 0.03% of its portfolio in the stock. Menta Capital owns 32,910 shares or 0.07% of their US portfolio. California Pub Employees Retirement Systems has 0% invested in the company for 15,600 shares. Tiaa Cref Invest Ltd owns 137,269 shares or 0% of their US portfolio. Arrowpoint Asset Mgmt Limited Liability Corporation holds 0.79% of its portfolio in Barracuda Networks Inc (NYSE:CUDA) for 2.57 million shares. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Credit Suisse Ag has invested 0% of its portfolio in Barracuda Networks Inc (NYSE:CUDA). The New York-based Spark Inv Limited Liability Co has invested 0.06% in Barracuda Networks Inc (NYSE:CUDA). Goldman Sachs Gp Inc has 41,140 shares for 0% of their US portfolio. Savings Bank Of America De last reported 274,565 shares in the company. Citadel Advsrs Ltd Liability Corp owns 46,519 shares or 0% of their US portfolio. Parametric Assoc Limited Liability last reported 38,620 shares in the company.
Insider Transactions: Since April 15, 2016, the stock had 0 buys, and 18 selling transactions for $13.97 million net activity. ALLEN JEFFRY R also sold $132,862 worth of Barracuda Networks Inc (NYSE:CUDA) on Friday, July 22. Hughes Michael D sold $101,150 worth of Barracuda Networks Inc (NYSE:CUDA) on Friday, July 15. Another trade for 57,590 shares valued at $919,793 was made by Drako Dean M on Friday, April 22. Faugno David also sold $497,500 worth of Barracuda Networks Inc (NYSE:CUDA) shares. 4,000 shares were sold by Jenkins William D Jr, worth $80,920.
More notable recent Barracuda Networks Inc (NYSE:CUDA) news were published by: Nasdaq.com which released: “Earnings Reaction History: Barracuda Networks, Inc., 55.6% Follow-Through …” on October 11, 2016, also Investorplace.com with their article: “3 Stocks to Watch on Wednesday: Barracuda Networks Inc (CUDA), Blackhawk …” published on October 12, 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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