Barracuda Networks jumps in debut on NYSE

NEW YORK Shares of Barracuda Networks Inc. jumped in their debut on the New York Stock Exchange on Wednesday.

The cloud-based security and storage services provider's stock climbed $5.02, or 27.9 percent, to $23.02 in morning trading.

Barracuda priced the initial public offering of 4.14 million shares at $18 each. That was at the low end of the expected price range of $18 to $21 per share.

The Campbell, Calif., company raised more than $74 million from the offering.

Barracuda is giving the underwriters a 30-day option to buy up to 621,000 more shares to cover any excess demand.

The stock is trading under the "CUDA" ticker symbol.