Wunderlich Securities Starts Violin Memory (VMEM) at Buy
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Price: $0.36 --0%
Rating Summary:
1 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 78
Rating Summary:
1 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 78
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Wunderlich Securities initiates coverage on Violin Memory (NYSE: VMEM) with a Buy rating and a price target of $6.00.
Analyst Kaushik Roy said, "Violin is participating in the large and growing market for enterprise solid state systems. The stock has come down significantly from its IPO price of $9.00 on September 27, 2013, as investors have become skeptical about the prospects of the company. Violin missed Street revenue estimates in its first two quarters as a public company. While there are issues with the company, we believe those issues are not insurmountable. A new CEO, Kevin DeNuccio, was hired on February 3, 2014, and he has a track record for transforming businesses. More important, we believe that the value of the company is significantly more than what the market perceives today. Hence, we are initiating with a Buy rating."
For an analyst ratings summary and ratings history on Violin Memory click here. For more ratings news on Violin Memory click here.
Shares of Violin Memory closed at $4.27 yesterday.
Analyst Kaushik Roy said, "Violin is participating in the large and growing market for enterprise solid state systems. The stock has come down significantly from its IPO price of $9.00 on September 27, 2013, as investors have become skeptical about the prospects of the company. Violin missed Street revenue estimates in its first two quarters as a public company. While there are issues with the company, we believe those issues are not insurmountable. A new CEO, Kevin DeNuccio, was hired on February 3, 2014, and he has a track record for transforming businesses. More important, we believe that the value of the company is significantly more than what the market perceives today. Hence, we are initiating with a Buy rating."
For an analyst ratings summary and ratings history on Violin Memory click here. For more ratings news on Violin Memory click here.
Shares of Violin Memory closed at $4.27 yesterday.
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