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Violin Memory Inc Surges On Barclays Upgrade

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Violin Memory Inc (NASDAQ: VMEM) was upgraded from Underweight to Equal-weight by Barclays in a report issued on Friday.

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 recently at $4.90, up 5.4 percent.

Latest Ratings for VMEM

DateFirmActionFromTo
Nov 2015Maxim GroupDowngradesBuyHold
Aug 2015Deutsche BankMaintainsHold
Mar 2015Deutsche BankMaintainsHold

View More Analyst Ratings for VMEM
View the Latest Analyst Ratings

 

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Posted-In: Barclays Ben A. ReitzesAnalyst Color Upgrades Price Target Analyst Ratings Movers

Latest Ratings

StockFirmActionPT
NETIJefferiesMaintains22.0
ATUSB of A SecuritiesDowngrades38.0
CNIVertical ResearchUpgrades
LINVertical ResearchUpgrades330.0
SITEBerenbergUpgrades207.0
View the Latest Analytics Ratings
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