BTIG Lifts PT on Barracuda Networks (CUDA) to $28; Still Sees Plenty of Near-Term Drivers

October 12, 2016 6:57 AM EDT
Get Alerts CUDA Hot Sheet
Price: $23.75 -0.34%

Rating Summary:
    13 Buy, 5 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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BTIG lifts its price target on Buy-rated Barracuda Networks (NYSE: CUDA) from $26 to $28 following Q2 results issued Tuesday night.

Analyst Joel Fishbein commented: Billings and revenue beat slightly, suggesting improving momentum in the core business, while the EPS beat (partially aided by one-time items) highlights the re-emerging leverage in the subscription model. The company talked down the notion of sustained bottom-line outperformance for the rest of the year (the top-end of the FY17 EPS guidance range increased by the same amount as the beat). However, we still see plenty of near-term drivers to push margins, EPS and the stock higher.

For an analyst ratings summary and ratings history on Barracuda Networks click here. For more ratings news on Barracuda Networks click here.

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