Analyst’s mean target price for Brocade Communications Systems, Inc.
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EPS growth in next year is estimated to reach 6.45% while EPS growth estimate for this year is set at 48.40%. But net income fell to $10.5 million from $91.7 million in the year-ago quarter as expenses rose from $252.1 million to $336.3 million. The stock had a trading volume of 6,014,792 shares.
Brocade Communications Systems (BRCD): The highest short term price target forecast on Brocade Communications Systems (BRCD) is $11 and the lowest target price is $8. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company’s stock. Wunderlich downgraded Brocade Communications Systems from a buy rating to a hold rating and dropped their price objective for the company from $10.50 to $9.00 in a report on Tuesday, May 3rd. However, the stock managed to close at $9.24, a loss of 11.66% for the day.
Always volatility measures make charm for active trader; price volatility of stock was 4.62% for a week and 4.22% for a month. Analysts had expected Brocade Communications Systems, Inc. The last bid price was called at $9.09 and the ask price was stated at $9.19. CHENG KEN is one of the largest insider shareholders in Brocade Communications Systems, Inc. (NASDAQ:BRCD) accumulated +0.11%, closing at $9.25 after floating between $9.23 and $9.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Meanwhile, SVP & General Counsel ODONNELL ELLEN sold 8,129 shares worth $72000.1, through a transaction dated 2016-06-10. Following the completion of the sale, the chief operating officer now directly owns 74,568 shares of the company’s stock, valued at approximately $759,847.92. Stock value has moved between $66.62 – 118.82 in last one year.
Several hedge funds have modified their holdings of BRCD. Barry Investment Advisors LLC boosted its position in shares of Brocade Communications Systems by 15.9% in the second quarter. The insider owns 445,937 shares which have current market value of around $4120458.CARNEY LLOYD is another major inside shareholder in the company. Mean recommendation on this stock is 2.90. The stock now shows the Market Capitalization of 152.47 Billion. Public Employees Retirement Association of Colorado boosted its stake in Brocade Communications Systems by 1.7% in the second quarter.
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Brocade Communications Systems, Inc is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions, and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The IP Networking Products segment includes Layer 2 and Layer 3 Ethernet switches, and routers that are created to connect users over private and public networks, including local area, metro, and within and across global data centers.
