UBS AG Gives Neutral Rating to Brocade Communications Systems (BRCD)
Shares of Brocade Communications Systems opened at 4.62 on Friday. Brocade Communications Systems has a one year low of $3.18 and a one year high of $7.30. The company has a market cap of $2.114 billion and a P/E ratio of 23.69.
Brocade Communications Systems last issued its quarterly earnings data on Thursday, May 17th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.03. Brocade Communications Systems’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Brocade Communications Systems will post $0.15 earnings per share next quarter.
BRCD has been the subject of a number of other recent research reports. Analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of Brocade Communications Systems to $4.40 in a research note to investors on Friday. Separately, analysts at Wedbush cut their price target on shares of Brocade Communications Systems from $6.00 to $5.50 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of Brocade Communications Systems in a research note to investors on Friday.
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.