Barracuda Reports Second Quarter Fiscal 2016 Results

Macquarie Downgrades Barracuda Networks (CUDA) to Neutral

Macquarie downgraded Barracuda Networks (NYSE: CUDA) from Outperform to Neutral.

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 $23.55 yesterday.

Piper Jaffray Downgrades Barracuda Networks (CUDA) to Neutral

Piper Jaffray downgraded Barracuda Networks (NYSE: CUDA) from Overweight to Neutral with a price target of $20.00 (from $40.00) after billings missed for the 2nd straight quarter.

Analyst Andrew Nowinski commented, "We are downgrading shares of CUDA to Neutral, following the weaker-than-expected FQ2(Aug) earnings... More

Barracuda Networks (CUDA) Enters Agreement to Acquire Intronis

Barracuda Networks (NYSE: CUDA) announced it has entered into a definitive agreement to acquire privately held Intronis, Inc. (Intronis), a leader in providing data protection solutions to managed service providers (MSPs), a fast-growing channel delivering IT services to small and medium-sized businesses. This acquisition is expected to greatly expand Barracuda's channel reach with the addition of nearly 2,000 MSPs and a purpose-built platform designed to streamline how MSPs service the data protection needs of their customers. The transaction is expected to close in Barracuda's fiscal third quarter.

"The Intronis team has built a... More

Barracuda Networks (CUDA) Tops Q2 EPS by 1c

Barracuda Networks (NYSE: CUDA) reported Q2 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $78.5 million versus the consensus estimate of $78.56 million.

"We now have more than 261,000 active subscribers and this quarter's dollar-based renewal rates were 95.1%. In the second quarter, gross billings grew to $98.4 million,... More