BWS Financial Raises Price Target on Barracuda Networks (CUDA) to $30

October 12, 2016 9:37 AM EDT
Get Alerts CUDA Hot Sheet
Price: $22.89 -5.45%

Rating Summary:
    14 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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BWS Financial reiterated a Buy rating on Barracuda Networks (NYSE: CUDA), and raised the price target to $30.00 (from $26.00), following the company's 2Q earnings report. CUDA ended the quarter with 299 thousand subscribers
compared to 286 thousand in the first quarter.

Analyst Hamed Khorsand commented, "Barracuda Networks (CUDA) reported fiscal second quarter (August) results slightly higher than we were projecting on a better than expected subscriber count. Even though CUDA beat our revenue forecast by approximately $2 million, the highlight of the period was how the Company has been able to leverage its presence on the public cloud and generate more subscribers."

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

Shares of Barracuda Networks closed at $23.33 yesterday.

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