The stock of Barracuda Networks Inc (NYSE:CUDA) is a huge mover today! About 487,716 shares traded hands. Barracuda Networks Inc (NYSE:CUDA) has risen 53.94% since April 6, 2016 and is uptrending. It has outperformed by 51.98% the S&P500.
The move comes after 7 months negative chart setup for the $1.23 billion company. It was reported on Nov, 8 by Barchart.com. We have $21.73 PT which if reached, will make NYSE:CUDA worth $61.50 million less.
Barracuda Networks Inc (NYSE:CUDA) Ratings Coverage
Out of 18 analysts covering Barracuda Networks (NYSE:CUDA), 9 rate it a “Buy”, 3 “Sell”, while 6 “Hold”. This means 50% are positive. Barracuda Networks has been the topic of 42 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock of Barracuda Networks Inc (NYSE:CUDA) has “Buy” rating given on Friday, January 8 by Stifel Nicolaus. The stock of Barracuda Networks Inc (NYSE:CUDA) earned “Hold” rating by Summit Redstone Partners on Friday, July 1. Pacific Crest upgraded Barracuda Networks Inc (NYSE:CUDA) on Tuesday, August 30 to “Overweight” rating. BWS Financial maintained Barracuda Networks Inc (NYSE:CUDA) rating on Friday, January 8. BWS Financial has “Buy” rating and $20.0 price target. The stock has “Equal-Weight” rating given by Morgan Stanley on Wednesday, October 12. The firm has “Hold” rating given on Friday, January 8 by Summit Research. Imperial Capital maintained the stock with “Outperform” rating in Friday, October 2 report. Stifel Nicolaus initiated Barracuda Networks Inc (NYSE:CUDA) rating on Tuesday, September 29. Stifel Nicolaus has “Buy” rating and $36 price target. The company was maintained on Friday, January 8 by Topeka Capital Markets. As per Wednesday, January 20, the company rating was downgraded by Guggenheim.
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 2016 Q2. Its up 0.88, from 0.82 in 2016Q1. The ratio improved, 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.
Northern Trust last reported 261,144 shares in the company. D E Shaw Communications reported 84,568 shares or 0% of all its holdings. The New York-based Teachers Advsr Inc has invested 0% in Barracuda Networks Inc (NYSE:CUDA). Spark Management Ltd Com holds 44,800 shares or 0.06% of its portfolio. Blackrock Institutional Trust Na last reported 574,917 shares in the company. Oxford Asset Mgmt, a United Kingdom-based fund reported 44,873 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mngmt has 14,200 shares for 0% of their US portfolio. National Bank Of New York Mellon Corporation, a New York-based fund reported 81,445 shares. Federated Investors Inc Pa owns 18,026 shares or 0% of their US portfolio. Swiss Bank & Trust has 45,000 shares for 0% of their US portfolio. Dai Ichi Life Insur Company last reported 78,692 shares in the company. Millennium Mngmt Ltd Liability has 0% invested in the company for 114,054 shares. Vanguard Group Incorporated has 1.52 million shares for 0% of their US portfolio. Tiaa Cref Invest Management Ltd Liability Company last reported 137,269 shares in the company. Moreover, Ahl Partners Llp has 0.01% invested in Barracuda Networks Inc (NYSE:CUDA) for 10,464 shares.
Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 18 sales for $13.73 million net activity. On Monday, August 1 the insider Hughes Michael D sold $111,100. 105,795 shares were sold by Drako Dean M, worth $1.81 million. Shares for $497,500 were sold by Faugno David. Jenkins William D Jr sold 4,000 shares worth $80,920. ALLEN JEFFRY R also sold $359,250 worth of Barracuda Networks Inc (NYSE:CUDA) shares.
More notable recent Barracuda Networks Inc (NYSE:CUDA) news were published by: Fool.com which released: “Why Shares of Barracuda Networks Inc. Are Soaring Today” on October 12, 2016, also Fool.com with their article: “Why Barracuda Networks Inc. Is Swooning in 2016” published on June 29, 2016, Fool.com published: “3 Reasons Barracuda Networks, Inc. Stock Could Rise” on May 24, 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 Nasdaq.com‘s news article titled: “Earnings Reaction History: Barracuda Networks, Inc., 55.6% Follow-Through …” with publication date: October 11, 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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