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UPDATE: D.A. Davidson Initiates Coverage On Barracuda Networks Inc On Unique Combination Of Factors


In a report published Wednesday, D.A. Davidson analyst Mark Kelleher initiated coverage on Barracuda Networks (NYSE: CUDA) with a Neutral rating and $29.50 price target.

In the report, D.A. Davidson noted, “Barracuda's products target multiple segments of the fast-growing security market. From standard load balancing and firewall capabilities, the company is unique in its ability to also offer data backup solutions. We believe such a breadth of capabilities will allow it to differentiate itself in a crowded market. Barracuda offers easy-to-deploy data back-up and security solutions addressing the needs of the small and medium sized business (SMB) market, which is often IT resource constrained. CUDA's solutions, often deployed on hardware appliances or virtual instances, are cloud-connected that enables continuous software updates and off-site redundancy. We believe this unique deployment architecture will enable mid-teens top-line growth for the next several years.”

Barracuda Networks closed on Tuesday at $26.74.

Latest Ratings for CUDA

Jan 2018DowngradesOutperformNeutral
Dec 2017DowngradesOverweightNeutral
Nov 2017DowngradesOverweightSector Weight

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Posted-In: D.A. Davidson Mark KelleherAnalyst Color Initiation Analyst Ratings


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