Brocade Communications Systems Inc. (BRCD) Given Hold Rating at BMO Capital Markets

Analyst Opinion The sell-side market experts layering the stock estimates have established a price target of $9.3 on the stock.

During last 5 trades the stock sticks nearly 4.91%. (NASDAQ:BRCD) started the last market session with a price of $10.33 and finished the session with the price of $10.3 showing plunge of -0.87 Percent. It was also driven by invasions from other public cloud companies. Finally, Piper Jaffray Cos. reiterated a “hold” rating on shares of Brocade Communications Systems in a research report on Sunday, May 22nd.

Last quarter – the company’s second fiscal quarter of the year – Ulta Salon earned $1.43 per share on $1.07 billion in revenue. The stock exchanged hands with 5.20 million shares contrast to its average daily volume of 12.66 million shares. The analyst recommendations from a month ago are 0 Buy, 3 Strong Buy, 0 Sell, 2 Hold and 12. For the period ending on 2016-10-31, experts are expecting EPS of $0.19. The firm has a SMA 50 (Simple Moving Average) of $9.47 and a SMA 200-(Simple Moving Average) of $9.30. That range was slightly higher than its previous Q3 guidance, but didn’t compare favorably to the average analyst expectation for a profit of $1.30 for the third quarter. Overweight rating was given by 0 analysts and Underweight rating was given by 1 analysts. Private Bank & Trust Co. acquired a new stake in Brocade Communications Systems during the second quarter worth $101,000. The company markets and sells its products and services to end-user customers directly, as well as through various distribution partners, including original equipment manufacturers, distributors, systems integrators, and value-added resellers.

On the company’s financial health, Brocade Communications Systems reported $0.22 EPS for the quarter, based on the information available during the earnings call on May 19, 2016. Brocade Communications Systems, Inc. serves various enterprises and service providers, such as telecommunication firms, cable operators, and mobile carriers. The shares were sold at an average price of $8.87, for a total value of $72,104.23. Barry Investment Advisors LLC raised its stake in Brocade Communications Systems by 15.9% in the second quarter. Brocade Communications Systems, Inc. Raymond James Trust N.A. raised its stake in Brocade Communications Systems by 47.3% in the second quarter. The company traded as low as $10.63 on the day. The disclosure for this sale can be found here. Now the stock has been rated as “Buy” from 15 Analysts.

IP-based global services revenue was $44 million, up 21% year-over-year, primarily due to $5 million incremental service volume from Ruckus – below the historical run rate.

Outside of Ruckus, the firm noted that Brocade’s sales remained weak in its storage networking and IP networking segments. The average target stock price is $9.80 with zero rating the stock a strong buy, zero rating the stock a buy, zero firms rating the stock a hold, zero rating the company to underperform, and lastly zero brokeragesrating the stock as sell.