Needham & Company Maintains a 'Buy' on Overland Storage (OVRL); Some Seasonality Expected

Needham & Company maintains a 'Buy' on Overland Storage (NASDAQ: OVRL) price target of $25.00.

Analyst, Glenn Hanus, said, "OVRL reported F4Q12 rev slightly below Street due to some softness in EMEA, offset by strength in disk sales. EPS surpassed estimates due to disciplined opex and a one-time benefit from collection of a previously written off bad debt expense. Overall, OVRL is executing to plan as it maintained C4Q guide for non-GAAP profitability on seasonal strength, Scale-out NAS launch, and continued SnapServer DX and SnapSAN traction."

FY13 EPS estimate lowered from (0.09) to (0.17)

For an analyst ratings summary and ratings history on Overland Storage click here. For more ratings news on Overland Storage click here.

Shares of Overland Storage closed at $1.86 yesterday.

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