Barracuda Networks, Inc. | $CUDA Stock | Shares Spike Up On Positive Earnings Numbers


Barracuda Networks, Inc.  (NASDAQ: CUDA)



Barracuda Networks, Inc. (CUDA), a security and data solutions company yesterday reported their fiscal first quarter 2017 financial results. Barracuda reported first quarter earnings of  $0.20 per share which beat analyst expectations of $0.11 per share. Barracuda reported first quarter revenues increased 11.2% year over year to $86.7 million which beat analyst expectations of $83.92 million.


Barracuda Networks, Inc.  CEO’s Comments

“We delivered strong results in the quarter and exceeded guidance on revenue, billings and earnings per share. We grew revenue 11% year-over-year and more than doubled our non-GAAP earnings when compared with the first quarter of last year,” said BJ Jenkins, president and CEO. “Our performance in the quarter was largely driven by execution on our strategy, which includes focusing our efforts to be the leader in security and data protection for our customers and expanding our routes to market, specifically in the MSP and public cloud channels. We made solid progress on these initiatives in the first quarter, and as a result, we believe we are building market momentum, and expect continued growth in our core product areas and in our bottom-line.”  PR Newswire


CUDA Technical Analysis

Barracuda Networks

CUDA opened trading yesterday at $15.24 which was up from the previous days trading of $15.00. CUDA closed trading yesterday at $15.51 and spiked up after market to $17.99, equivalent to a 16% increase from the closing price. Taking a look at the daily chart we can see the last time CUDA traded above these levels was on April 28th when it traded at $18.04. Taking a closer look at the daily chart we can see that CUDA has been on an overall upward trend dating back to February 9th when it traded at $10.36. CUDA has a float of 22.28 million shares and traded 1.95 times the normal daily trading volume on Thursday. For trading purposes, I would like to see CUDA open trading on Friday above $17.25  and if it does I would be looking to take a long position at the bell. My stop loss would be $0.25 from my entry position fearing anything more than that and the stock would start to fill in the gap up.


Company Profile

Barracuda Networks, Inc. designs and delivers security and data protection solutions. The company offers cloud-enabled solutions that enable customers address security threats, improve network performance, and protect and store their data. It provides various security solutions, including Barracuda Email Security, an email security service with spam and virus blocking, anti-phishing, fraud detection, advanced threat detection, denial-of-service prevention, email continuity, and encryption and policy management; and Barracuda Web Security Gateway, a solution to protect users from Web-based threats. The company’s security solutions also comprise Barracuda NextGen Firewalls to secure the network and optimize traffic flows; Barracuda Web Application Firewall to protect Web applications and websites from data breaches and downtime; and Barracuda Load Balancer ADC to optimize application performance, availability, and security, as well as various remote access solutions. In addition, it offers data protection solutions, such as Barracuda Backup, a backup solution; Barracuda Message Archiver, a data archival solution; and CudaSign, an eSignature platform. The company sells its appliances, services, and software products to education, government, financial services, healthcare, professional services, telecommunications, retail, and manufacturing industries through its sales personnel, distribution partners, and value added resellers in approximately 100 countries. Barracuda Networks, Inc. was founded in 2003 and is headquartered in Campbell, California.  Yahoo Finance