Needham & Company Raises Price Target as Radcom Ltd. (RDCM) Reaches for Growth

October 24, 2016 7:23 AM EDT
Get Alerts RDCM Hot Sheet
Price: $17.30 +0.87%

Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade RDCM Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

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."

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

Shares of Radcom closed at $20.20 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Needham & Company, AdCom

Add Your Comment