Barracuda Networks Announced Better-than-Expected Q1 Earnings

Earnings Show Barracuda Networks Is Continuing Its Business Shift Toward Growth

Earnings Show Barracuda Networks Is Continuing Its Business Shift Toward Growth

01/10/2017 - Barracuda Networks, Inc. had its "market perform" rating reiterated by analysts at William Blair.

We delivered a strong first quarter exceeding our guidance on both revenue and billings, driven by continued momentum with our email security, public cloud and MSP solutions, which led to 20% core product billings growth year-over-year. Ltd. boosted its stake in shares of Barracuda Networks by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,032,111 shares of the communications equipment provider's stock worth $22,118,000 after buying an additional 353,726 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Barracuda Networks by 28.1% in the fourth quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider's stock valued at $159,000 after buying an additional 600 shares in the last quarter. US Bancorp DE boosted its stake in shares of Barracuda Networks by 170.8% in the first quarter. The other 13 are split, though not evenly, between analysts who think you should buy its stock versus those who think you should sell it. Perone Michael D also sold $1.22M worth of Barracuda Networks Inc (NYSE:CUDA) shares. (CUDA) opened at 23.18 on Wednesday. The stock has a 50 day moving average of $22.41 and a 200-day moving average of $22.65. The liquidity position of firm is on noticeable level, as its current ratio was calculated as 1.00 at the same time as its debt to equity ratio stands at 0.64. The communications equipment provider reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Barracuda Networks had a negative return on equity of 362.41% and a net margin of 2.81%. The company had revenue of $94.18 million during the quarter, compared to the consensus estimate of $91.18 million. Nine analysts have issued estimates for Barracuda Networks' earnings, with estimates ranging from $0.06 to $0.09. Equities research analysts anticipate that Barracuda Networks, Inc. will post $0.77 EPS for the current year.

TRADEMARK VIOLATION NOTICE: "Weiss Multi Strategy Advisers LLC Purchases New Position in Barracuda Networks, Inc. (CUDA) Releases Q2 Earnings Guidance" was posted by BNB Daily and is the property of of BNB Daily. If you are reading this piece on another publication, it was copied illegally and republished in violation of USA & worldwide trademark and copyright legislation.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Barracuda Networks Inc (NYSE:CUDA) high price target of $33 and with a conservative view have low price target of $20.

Several research firms have commented on CUDA. The stock closing price is now trading upward to its 50 day moving average with change of 3.48%, escalated to its 20 day moving average with figure of 1.26% and above its 200 day moving average with value 17.44%. Imperial Capital's price target indicates a potential downside of 9.40% from the company's previous close. Now Ball Corporation's current price is $5.34 shy of the official highest sell-side analyst price target on Wall Street.

The stock is now moving with a Positive distance from 200-Day Simple Moving Average of about 0.76% and has a pretty decent Year to Date (YTD) Performance of 8.17% which means the stock is constantly adding to its value from previous fiscal year end price. Finally, Paloma Partners Management Co purchased a new position in Barracuda Networks during the first quarter valued at $223,000. It increased, as 17 investors sold Barracuda Networks Inc shares while 27 reduced holdings. The transaction related to this sale was declared in a document with the Security and Exchange Commission, which can be accessed through this link. Shares of CUDA have increased 2.74% in the past three months, while the S&P 500 has dropped -0.83% in that time. The stock was sold at an average price of $22.89, for a total transaction of $160,825.14. Clearbridge Investments, LLC now holds 2,034,008 shares valued at $47,006,000. The disclosure for this sale can be found here. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are created to manage information technology (IT) operations for its customers.

Recommended News

  • SC To Hear States' Petitions On Highway Liquor Ban Today

    SC To Hear States' Petitions On Highway Liquor Ban Today

    As long as a road is a highway our order on liquor ban will apply, the moment it ceases to be a highway the order will not apply. Rajasthan had also denotified certain sections of state highways passing through populous towns in the state.
    Flood fury hits 24 Assam districts; toll 44

    Flood fury hits 24 Assam districts; toll 44

    Assam CM Sarbananda Sonowal on Wednesday flew to his constituency - Majuli river island - to take stock of the situation. ADMA stated that the Brahmaputra is flowing above danger levels at Dibrugarh, Neamatighat, Tezpur, Goalpara and Dhubri.
    Afghan girls allowed entry into USA  for 10 days

    Afghan girls allowed entry into USA for 10 days

    Afghanistan is not part of Trump's order to temporarily ban travel from six Muslim-majority countries. President Trump reportedly intervened to reverse the State Department's decision against the girls.
  • WEATHER: Much warmer, possible storms through tonight

    WEATHER: Much warmer, possible storms through tonight

    MUCH NICER WEEKEND: Once the front passes through Friday , Saturday will be slightly cooler and much less humid. Several waves will move across the area through the week, giving us periodic showers and storms into Friday .
    Soldiers Killed In An Attack Near Line Of Control In North Kashmir

    Soldiers Killed In An Attack Near Line Of Control In North Kashmir

    The incident comes days after terrorists ambushed a bus carrying Amarnath Yatra pilgrims in Kashmir's Anantnag district. Northern Army chief Lt Gen Devraj Anbu paid his respects to the two soldiers and offered condolences to their families.
    Premier Oil shares surge on 'world class' oil discovery offshore Mexico

    Premier Oil shares surge on 'world class' oil discovery offshore Mexico

    For this operation the drilling platform Ensco 8503 is being used, which has the most advanced exploration technologies. The PSCs were for blocks 2 and 7 in the Sureste Basin, off the coast of Mexico's Veracruz and Tabasco states.
  • Chuck Blazer, who touched off soccer scandal, dead at 72

    Chuck Blazer, who touched off soccer scandal, dead at 72

    The statement continued: "Chuck felt profound sorrow and regret for his action". Blazer was also the CONCACAF general secretary from 1990 to 2011.

    Liverpool join chase for Atlético Madrid's Ángel Correa

    LIVERPOOL have launched a £25million bid for Atletico Madrid striker Angel Correa according to reports in Spain. As per the provided AS link, Atletico have told the player that for now he has to stay.
    Xi, Trump Discuss Ties, Hot-spot Issues on G20 Sidelines

    Xi, Trump Discuss Ties, Hot-spot Issues on G20 Sidelines

    The plan also envisages both adversaries renouncing the use of force, while creating " peace mechanisms " on the Korean Peninsula. South Korean President Moon Jae-in said the test indicated a quicker than expected pace of the North's ICBM program.
  • 'All clear' given after UCLA evacuated dorms amid bomb threat

    'All clear' given after UCLA evacuated dorms amid bomb threat

    The phoned-in bomb threat was reported about 10:10 p.m.at UCLA Sunset Recreation Center, according to a UCLA official. Students were evacuated from a recreation center at UCLA amid reports of a bomb threat Wednesday night.
    LG V30 Launch Expected on August 31

    LG V30 Launch Expected on August 31

    The switch from LCD to OLED would help make the LG V30 a Google Daydream VR smartphone, the first for LG. Apart from the LG V30, the company is reportedly working hard on the successor of this year's LG G6 .
    American accuses Qatar Airways CEO of being

    American accuses Qatar Airways CEO of being "sexist and ageist" after comments

    American Airlines , which Qatar Airways is seeking to buy a stake in, was not the only organization in the U.S. to take offense. American confirmed Wednesday it had notified Etihad and Qatar of the codeshare terminations on June 29.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.