Price Target Update on Brocade Communications Systems (NASDAQ:BRCD)

Brocade Communications Systems (NASDAQ:BRCD) : The highest short term price target forecast on Brocade Communications Systems (NASDAQ:BRCD) is $11 and the lowest target price is $8. A total of 10 equity analysts are currently covering the company. The average price of all the analysts is $9.1 with a standard deviation of $1.13.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Goldman Sachs maintains the rating on Brocade Communications Systems (NASDAQ:BRCD). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency lowers the price target from $10 per share to $9 per share. The rating by the firm was issued on May 20, 2016.

Brocade Communications Systems (NASDAQ:BRCD): stock turned positive on Thursday. Though the stock opened at $9.29, the bulls momentum made the stock top out at $9.67 level for the day. The stock recorded a low of $9.26 and closed the trading day at $9.55, in the green by 3.35%. The total traded volume for the day was 10,669,090. The stock had closed at $9.24 in the previous days trading.

The company shares have dropped -26.55% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $12.75 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $8.55 and the 200 Day Moving Average price is recorded at $9.02. On the companys insider trading activities, Odonnell Ellen, officer (SVP & General Counsel) of Brocade Communications Systems Inc, unloaded 8,129 shares at an average price of $8.87 on June 10, 2016. The total amount of the transaction was worth $72,104, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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