Barracuda Networks Gets a Buy Rating from Northland Securities

By Carrie Williams

Northland Securities analyst Robert Breza reiterated a Buy rating on Barracuda Networks (NYSE: CUDA) yesterday and set a price target of $28. The company’s shares opened today at $22.67.

According to TipRanks.com, Breza is a 3-star analyst with an average return of 3.9% and a 59.4% success rate. Breza covers the Technology sector, focusing on stocks such as Coupa Software Inc, CommVault Systems, and Guidance Software.

Currently, the analyst consensus on Barracuda Networks is Strong Buy and the average price target is $29.33, representing a 29.4% upside.

In a report issued on June 27, KeyBanc also maintained a Buy rating on the stock with a $30 price target.

Barracuda Networks’ market cap is currently $1.2B and has a P/E ratio of 119.26. The company has a book value ratio of 186.6249.

Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CUDA in relation to earlier this year.

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.