D.A. Davidson Releases a Hold Rating on Barracuda Networks

By Jason Carr

In a report released today, Mark Kelleher from D.A. Davidson reiterated a Hold rating on Barracuda Networks (NYSE: CUDA), with a price target of $23. The company’s shares closed yesterday at $23.41.

According to TipRanks.com, Kelleher is a 3-star analyst with an average return of 4.0% and a 50.0% success rate. Kelleher covers the Technology sector, focusing on stocks such as Super Micro Computer, Limelight Networks, and Aerohive Networks.

Currently, the analyst consensus on Barracuda Networks is Moderate Buy and the average price target is $28, representing a 19.6% upside.

In a report issued on April 13, JMP Securities also maintained a Hold rating on the stock.

Based on Barracuda Networks’ latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $89.26 million and quarterly net profit of $3.22 million. In comparison, last year the company earned revenue of $83.73 million and had a net profit of $3.24 million.

Based on the recent corporate insider activity of 119 insiders, corporate insider sentiment is negative on the stock. Last month, Gordon Stitt, a Director at CUDA sold 2,500 shares for a total of $55,675.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Barracuda Networks, Inc. engages in the development and provision of security systems and data protection solutions. It offers cloud-connected applications and solutions for security threats, network performance, and data storage. The company was founded by Dean M. Drako, Michael D. Perone and Zachary S. Levow in 2003 and is headquartered in Campbell, CA.