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Violin Memory Inc. (NASDAQ: VMEM) was upgraded from Underweight to Equal Weight by Barclays in a report issued on Friday.
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Analyst Ben A. Reitzes decided to raise the Price Target to $5 based on his 3.5x FY 2016 sales estimate of $105.6 million.
Reitzes acknowledged that “Violin serves a growing market – and the world in general seems to be looking more and more to NAND flash for primary storage over time.”
According to the report, there are several risks still facing the company, including strong competition and the ability for Violin to execute on its business model.
The report’s price forecast suggested that an upside of $7 may be seen for the stock if market share increased with a downside of $3 based on the company’s cash, assets, and intellectual property.
Violin Memory Inc. traded at $4.88 recently, up 4.95 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.