Analyst Rating Update on Brocade Communications Systems (BRCD)

Brocade Communications Systems (BRCD) : The consensus on Brocade Communications Systems (BRCD) based on 17 analyst recommendation on the company stock is 2.88, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 12 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Brocade Communications Systems (BRCD) : Currently there are 10 street experts covering Brocade Communications Systems (BRCD) stock. The most bullish and bearish price target for the stock is $11 and $8 respectively for the short term. The average price target of all the analysts comes to $8.9. The estimated standard deviation from the target is $1.13.

Company shares have received an average consensus rating of Hold for the current week Also, Brokerage firm Baird downgrades its rating on Brocade Communications Systems (NASDAQ:BRCD). As per the latest information, the brokerage house lowers the price target to $8 per share from a prior target of $10. The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on July 14, 2016.


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 $9.02 and $9.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.23, notching a gain of 2.10% for the day. The total traded volume was 3,667,676 . The stock had closed at $9.04 on the previous day.

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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