Violin Memory (VMEM) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Violin Memory (NASDAQ:VMEM) issued its quarterly earnings data on Wednesday. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01, Analyst Ratings News reports. The company had revenue of $18.60 million for the quarter, compared to the consensus estimate of $19.06 million.
Violin Memory (NASDAQ:VMEM) traded up 3.46% on Wednesday, hitting $4.19. The stock had a trading volume of 1,412,167 shares. Violin Memory has a 52 week low of $2.50 and a 52 week high of $7.98. The stock has a 50-day moving average of $3.88 and a 200-day moving average of $3.94. The company’s market cap is $377.7 million.
On a related note, analysts at Deutsche Bank reiterated a “hold” rating on shares of Violin Memory in a research note on Thursday, August 7th. They now have a $4.00 price target on the stock, down previously from $4.50. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.17.
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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