Caris & Co. Starts Stock Coverage on Brocade Communications Systems (BRCD)

By admin | 6 years ago

Caris & Co. initiated coverage on shares of Brocade Communications Systems (NASDAQ: BRCD) in a research note issued on Thursday. The firm set an “average” rating on the stock.

BRCD has been the subject of a number of other recent research reports. Analysts at Needham & Company reiterated a “buy” rating on shares of Brocade Communications Systems in a research note to investors on Thursday, March 29th. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of Brocade Communications Systems in a research note to investors on Tuesday, March 6th. They set a “hold” rating and a $6.50 price target on the stock. Finally, analysts at TheStreet upgraded shares of Brocade Communications Systems to a “buy” rating in a research note to investors on Thursday, February 23rd.

Brocade Communications Systems traded down 4.99% on Thursday, hitting $5.14. Brocade Communications Systems has a 52-week low of $3.18 and a 52-week high of $7.30. The company has a market cap of $2.361 billion and a price-to-earnings ratio of 32.59.

The company last announced its quarterly results on Tuesday, February 21st. It reported $0.20 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.13 EPS by $0.07. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Brocade Communications Systems will post $0.12 EPS next quarter.

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.

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