Blue Coat (BCSI) has been downgraded today by the research analysts at investment firm Wedbush which downgraded BCSI from a “outperform” rating to “neutral.” Wedbush also lowered their price target for BCSI from $29 to $20 dollars. BCSI is up during intraday trading after gapping down as morning market hours began.
Blue Coat is slated to release their next earnings report on August 18th, 2011 and is estimated to post EPS of 24 cents. Their last earnings report was released on May 26th, 2011 and announced EPS of 30 cents with revenue totaling $120.7 million which was down -9.0 % year to year.
Blue Coat is scheduled to attend two conferences in the near future, the first being the Cowen and Co. Technology, Media and Telecom Conference on June 1st, 2011, with the second conference being the Bank of America Merrill Lynch Technology Conference the following day on June 2nd, 2011.
Blue Coat designs, develops and sells products and services that secure and optimize the delivery of business applications and other information to distributed users over a Wide Area Network (“WAN”) or the public Internet. The company has market capitalization of $998,000,000 and 43,497,000 shares outstanding. BCSI has a 52-week high of $32.22 with the low being $17.21 dollars. BCSI is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.