What happened

Shares of Barracuda Networks (NYSE:CUDA) fell 12% in April 2017, according to data from S&P Global Market Intelligence. The data security specialist presented fourth-quarter results on April 17, triggering a 17% drop the next day.

So what

Barracuda delivered significant growth on both the top and bottom lines in the fourth quarter, exceeding analyst estimates across the board. But forward-looking earnings guidance for fiscal year 2018 fell short of the Street's then-current projections, making investors forget all about the reported earnings surprise in a hurry.

Data security concept, padlock around Ethernet cables.

Image source: Getty Images.

Now what

April's woes notwithstanding, Barracuda shares have gained 31% over the last 52 weeks, roughly doubling the S&P 500's return over the same period. The company brings together aspects of two vibrant markets, namely data security and cloud computing. Solutions can be deployed on public cloud services, in private data centers, or on a hybrid platform incorporating a combination of public and private tools.

If you're playing Buzzword Bingo at home, congratulations on the quick victory I just handed out. But Barracuda's hybrid cloud security is more than just hot air, and that strategy should keep the company relevant for years to come. Opportunistic investors might want to pick up a few shares while the guidance-related discounts last.

Anders Bylund has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.