Barracuda Networks Gets a Buy from Robert W. Baird

By Ryan Adsit

In a report released today, Jayson Noland from Robert W. Baird reiterated a Buy rating on Barracuda Networks (NYSE: CUDA). The company’s shares closed yesterday at $23.41.

Noland noted:

“We continue to believe the company is successfully transitioning to a cloud-based model faster than most across the IT appliance landscape.”

According to, Noland is a 3-star analyst with an average return of 2.8% and a 41.9% success rate. Noland covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Riverbed Technology, and Palo Alto Networks.

Barracuda Networks has an analyst consensus of Moderate Buy, with a price target consensus of $28.

Based on Barracuda Networks’ latest earnings report for the quarter ending November 30, the company posted quarterly revenue of $88.81 million and quarterly net profit of $1.79 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.

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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.