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Piper Jaffray upgraded Barracuda Networks (NYSE:CUDA) from Neutral to Overweight in a statement released earlier today.

Piper Jaffray has upgraded Barracuda Networks (NYSE:CUDA) from Neutral to Overweight in a report released on Wednesday October 12, 2016.

Previously on 10/07/2016, Zacks Investment Research reported on Barracuda Networks (NYSE:CUDA) increased the target price from $0.00 to $27.00. At the time, this indicated a possible upside of 0.13%.

Yesterday Barracuda Networks (NYSE:CUDA) traded -2.95% lower at $23.33. The company’s 50-day moving average is $23.86 and its 200-day moving average is $19.13. The last closing price is up 21.99% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 1,524,689 shares of the stock traded hands, up from an average trading volume of 457,215

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Barracuda Networks (NYSE:CUDA)

Barracuda Networks has a 52 week low of $9.44 and a 52 week high of $25.77 with a PE ratio of 583.25 Barracuda Networks’s market cap is currently $0.

In addition to Piper Jaffray reporting its target price, a total of 13 firms have reported on the stock. The consensus target price is $18.81 with 3 firms rating the stock a strong buy, 3 firms rating the stock a buy, 8 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Barracuda Networks (NYSE:CUDA)

Barracuda Networks, Inc. designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers. Its security solutions include Barracuda Email Security, The Barracuda Web Security Gateway, Barracuda NextGen Firewalls, The Barracuda Web Application Firewall, The Barracuda Load Balancer ADC and The Barracuda SSL VPN. Its data protection solutions provide solutions for on-premises and cloud-based archiving and backup. Its data protection solutions include Barracuda Backup, Barracuda Message Archiver and CudaSign. Its solution suites combine its security and data protection offerings into services designed for cloud platforms and managed services environments. Its solution suites include Barracuda Essentials for Office 365 and Intronis ECHOplatform.

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