Needham & Company Raises Price Target as Radcom Ltd. (RDCM) Reaches for Growth
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Needham & Company reiterated a Buy rating on Radcom (NASDAQ: RDCM), and raised the price target to $27.00 (from $23.00), as the company reaches for growth opportunity. Radcom noted on the last conference call it had engaged with 9 Service Providers in evaluations. Four of these are moving at a rapid pace. Needham is also interested in the announced AWS and AT&T partnership, as AT&T is aggressively using RDCM for vProbes in monitoring.
Analyst Alex Henderson commented, "We believe RDCM is confronted with an exceptional growth opportunity. We think the company is determined to seize it. With major contract wins likely at numerous Tier 1 Service Providers, we think Radcom is deciding to invest aggressively in front of growth. Accordingly, we are raising our Revenue targets but also sharply increasing our estimates for OPEX and R&D to support this growth. We are highly bullish and we raise our Price Target to $27 from $23 to reflect the strong positive news flow."
Shares of Radcom closed at $20.20 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNeedham & Company, AdCom
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