The brokerage now has a “neutral” rating on the stock. The Market Capitalization of the company stands at 4.19 Billion. The highest share price NASDAQ:BRCD shares have reached in the prior twelve months is 10.94 with the lowest being 7.4. The firm has a SMA 50 (Simple Moving Average) of $9.47 and a SMA 200-(Simple Moving Average) of $9.30.
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The average true range of Brocade Communications Systems, Inc.’s (BRCD) is recorded at 0.21 and the relative strength index of the stock stands 67.76. Analyst had a consensus estimate of $0.22. Brocade reported third quarter revenue of $591 million, up 7% year-over-year and up 13% quarter-over-quarter. The investment management company has sold out 477,264 shares of Brocade Communications Systems which is valued at $4,615,143.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. To see the ratio analysis, the debt to equity ratio appeared as 0.01 for seeing its liquidity position. Non-GAAP diluted EPS was $0.21 for THIRD QUARTER 2016, down 21% year-over-year and down 2% quarter-over-quarter.
In a different news, on Aug 23, 2016, Gale E. England (COO and SVP Operations) sold 10,000 shares at $10.19 per share price. The last bid price was called at $10.30 and the ask price was stated at $10.49. With RSI of 53.02, the stock should still continue to rise and get closer to its one year target estimate of $49.5, making it a hold for now. The disclosure for this sale can be found here. Further, analysts have a 12 month target price of $9.20 on company shares. (NASDAQ:BRCD) was down -0.87% (-$0.09) to $10.21 and showed a volume of 3.73 mln shares. Wells Fargo & Co. reiterated a “hold” rating on shares of Brocade Communications Systems in a research report on Sunday, May 22nd.
Analysts projected the maximum potential price target of $11 however minimum reachable price target is $7.5 expected by them, according to WSJ data.
The Company has received rating from WSJ analysts.
Company mean estimate for revenue for the ongoing quarter ending Jul 16 is $573.16M by 12 analysts. Ladenburg Thalmann Financial Services Inc. raised its stake in Brocade Communications Systems by 4.8% in the first quarter. Barry Investment Advisors LLC raised its stake in Brocade Communications Systems by 15.9% in the second quarter. As of January 30, 2016, the company operated 1,792 stores in the United States.
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On 8/23/2016 Veeva Systems Inc. Raymond James Trust N.A. raised its stake in Brocade Communications Systems by 47.3% in the second quarter. The share price is trading in a range of $5.35 – 5.49. (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.
