Brocade Communications Systems (NASDAQ:BRCD) : The highest level Brocade Communications Systems (NASDAQ: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, Inc. has dropped 3.87% in the last five trading days, however, the shares have posted positive gains of 2.39% in the last 4 weeks. Brocade Communications Systems, Inc. has dropped 13.2% during the last 3-month period . Year-to-Date the stock performance stands at 1.05%.
Brocade Communications Systems (NASDAQ:BRCD) : 17 analysts are covering Brocade Communications Systems (NASDAQ:BRCD) and their average rating on the stock is 2.76, which is read as a Hold. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 13 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Brocade Communications Systems (NASDAQ:BRCD): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.07 and $8.91 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.18. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.18, notching a gain of 1.21% for the day. The total traded volume was 7,761,814 . The stock had closed at $9.07 on the previous day.
In an insider trading activity, The Securities and Exchange Commission has divulged that Odonnell Ellen, officer (SVP & General Counsel) of Brocade Communications Systems Inc, had unloaded 8,129 shares at an average price of $8.87 in a transaction dated on June 10, 2016. The total value of the transaction was worth $72,104.
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.