Finally, William Blair cut Barracuda Networks to a buy rating in a research note on Wednesday, September 30th. Analysts also cited longer sales cycles and higher churn as additional risks.
On Jan 8, 2016 the analysts at Topeka Capital Markets have Reiterated the shares of Barracuda Networks Inc from "Buy " and lowered the price target from $42 to $26.
Shares of Barracuda Networks (NYSE:CUDA) traded down 34.69% during midday trading on Friday, hitting $10.73.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Thursday, January 7th. The consensus estimate was for EPS of $0.08.
While the headline numbers didn't miss estimates by much, gross billings declined by 2.7% year over year to $89 million.
Previously, Sterne Agee CRT on 6 Jan 2015 Downgraded the coverage of United Technologies Corporation with rating of "Buy" to "Neutral ". Pacific Crest lowered Barracuda Networks from an "overweight" rating to a "sector weight" rating in a research note on Friday. The company expects revenue between $80 million and $82 million, below the $84.7 million analysts were expecting. During the same quarter in the previous year, the company posted $0.06 EPS.
The Pennsylvania-based fund Hamilton Lane Advisors, LLC revealed it had acquired so far a stake worth about 4.29% of the fund's stock portfolio in Barracuda Networks. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company.
Based in Campbell, CA, Barracuda Networks designs and delivers security and storage solutions. The company has a consensus rating of "Buy" and a consensus target price of $30.76. It offers cloud-connected solutions that help its customers address security threats, enhance network performance, and protect and store their data. The Company's security and storage solutions are connected to its cloud services, which enable continuous software updates, off-site redundancy and distributed capacity, and are offered on a subscription basis. With regard to the company's quarterly results, Barracuda CEO and president BJ Jenkins commented: "While we see various dynamics impacting billings in each of our markets, the shift from traditional and exclusively on-premises IT solution deployments to hybrid, public cloud and managed service solutions are accelerating faster than we expected and is becoming pervasive across more of our markets". Its security offerings include e-mail security, Web security, next-generation firewall, application security, and integrated network security, among others.