Violin Memory Coverage Initiated at Sterne Agee (VMEM)
Equities research analysts at Sterne Agee initiated coverage on shares of Violin Memory (NASDAQ:VMEM) in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
The analysts wrote, “Violin has emerged as one of the leading vendors in the All Flash Array market with what we view as a differentiated hardware engineering lead. That said, the long-term outlook for the stock will be heavily correlated to their execution on their new Software platforms, which, given the early stages of market maturation, is difficult to gauge.”
A number of other firms have also recently commented on VMEM. Analysts at Merrill Lynch initiated coverage on shares of Violin Memory in a research note to investors on Wednesday, October 23rd. They set a “buy” rating on the stock. Separately, analysts at Pacific Crest initiated coverage on shares of Violin Memory in a research note to investors on Tuesday, October 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of Violin Memory in a research note to investors on Tuesday, October 22nd. They set an “equal weight” rating and a $9.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Violin Memory has an average rating of “Buy” and a consensus target price of $9.05.
Shares of Violin Memory (NASDAQ:VMEM) traded down 2.11% during mid-day trading on Friday, hitting $6.51. The stock had a trading volume of 116,461 shares. The stock’s 50-day moving average is $7.19 and its 200-day moving average is $7.19. The company’s market cap is $532.7 million.
Violin Memory, Inc is pioneering a new class of flash-based storage systems that are designed to bring storage performance in-line with high-speed applications, servers and networks.
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