Brokerage firm Baird Downgrades its rating on Brocade Communications Systems(NASDAQ:BRCD). In a research note issued to the investors, the brokerage major Lowers the price-target to $8.00 per share. The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Baird was issued on Jul 14, 2016.
In a different note, On May 20, 2016, Barclays said it Maintains its rating on Brocade Communications Systems. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Equalweight’ by the firm. On May 20, 2016, Goldman Sachs said it Maintains its rating on Brocade Communications Systems. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 20, 2016, UBS said it Maintains its rating on Brocade Communications Systems. In the research note, the firm Lowers the price-target to $8.50 per share. The shares have been rated ‘Sell’ by the firm. Bank of America said it Initiates Coverage on Brocade Communications Systems, according to a research note issued on May 18, 2016. The shares have been rated ‘Buy’ by the firm. On May 3, 2016, Wunderlich said it Downgrades its rating on Brocade Communications Systems. In the research note, the firm Lowers the price-target to $10.50 per share. The shares have been rated ‘Hold’ by the firm.
Brocade Communications Systems (BRCD) remained unchanged at the close of Monday session. Even as the volume increased to 45,40,969 ,the shares failed to make any impression and ended at 0 points or 0.00% at $9.09. The trading session commenced at $9.14 and the stock hit a high of $9.19 and touched $9.07 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $11.28 and the 52-week low is $7.4. The company has a market cap of $3,631 M and has approximately 39,94,42,030 outstanding shares.
Brocade Communications Systems(BRCD) last announced its earnings results on May 19, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $523.31M. Analysts had an estimated revenue of $530.93M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.22.
Several Insider Transactions has been reported to the SEC. On Jun 13, 2016, Ellen Odonnell (SVP & General Counsel) sold 8,129 shares at $8.87 per share price.Also, On Jun 1, 2016, Gale E. England (COO and SVP Operations) sold 10,000 shares at $9.00 per share price.On Mar 30, 2016, Daniel W Fairfax (SVP and CFO) sold 12,000 shares at $10.23 per share price, according to the Form-4 filing with the securities and exchange commission.
Brocade Communications Systems Inc. (Brocade) is a supplier of networking equipment including end-to-end Internet Protocol-based Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes including global enterprises and service providers such as telecommunication firms cable operators and mobile carriers. Brocade offers networking hardware and software products and services. Its products and services are marketed sold and supported globally to end-user customers through distribution partners including original equipment manufacturers distributors systems integrators value-added resellers and directly to end-users by the Brocade direct sales force. The Company operates in four segments: Data Storage Global Services IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.