Brocade Communications Systems (BRCD) : Analyst Rating Update

Brocade Communications Systems (BRCD) has an average broker rating of 2.76, which is interpreted as a Hold, as rated by 17 equity analysts. Nonetheless, 3 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 13 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Brocade Communications Systems (BRCD) : The highest level Brocade Communications Systems (BRCD) is projected to reach is $11 for the short term and the lowest estimate is at $8. The consolidated price target from 10 rating analysts who initiate coverage on the stock is $9.1 and the possibility the share price can swing is $1.13.

Brocade Communications Systems (NASDAQ:BRCD): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.99 and $8.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.16. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.09, notching a gain of 0.22% for the day. The total traded volume was 7,762,121 . The stock had closed at $9.07 on the previous day.

Also, Goldman Sachs maintains its rating on Brocade Communications Systems (NASDAQ:BRCD). The global brokerage major lowers the current price target from $10 per share to $9 per share. Analysts at the Goldman Sachs have a current rating of Neutral on the shares. The rating by the firm was issued on May 20, 2016. The company shares have dropped -24.16% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $12.02 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $8.80 and the 200 Day Moving Average price is recorded at $9.04.

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.

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