Barracuda Networks CUDA IT Security and Storage for the SMB Market

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Today Barracuda (CUDA) got a bevy of "buy" ratings from their investment bankers. Price targets are in the $25-28 range with the shares trading at $22. The IPO was completed at the bottom of the filing range at $18 in early November.

Barracuda is a ~$250M revenue company that provides a suite of IT solutions centered around storage and security. Operating margins are already positive at 6% with higher free cash flow margins over 20%. The target model calls for 17-23% non-GAAP operating margins and 38-43% free cash flow margins.

If there is a unique aspect . . .

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