Baird Starts Barracuda Networks (CUDA) at Outperform

November 14, 2016 4:35 PM EST
Get Alerts CUDA Hot Sheet
Price: $23.32 +0.78%

Rating Summary:
    14 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Baird initiates coverage on Barracuda Networks (NYSE: CUDA) with a Outperform rating and a price target of $29.00.

Analyst Jayson Noland commented, "We are launching coverage on Barracuda with an Outperform rating and a $29 price target. We remain favorable on the market for IT Security and Data Protection and believe Barracuda has differentiated itself through its early presence in the cloud. We see upside to current levels as the company profitably transitions to a ratable subscription-based revenue model."

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 $24.14 yesterday.

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