Needham & Company Starts Radcom (RDCM) at Buy

Needham & Company initiates coverage on Radcom (NASDAQ: RDCM) with a Buy rating and a price target of $16.00.

Analyst Alex Henderson commented, "We are initiating coverage of Radcom with a Buy rating and an $16 Target Price. Radcom recognized early the emergence and requirements of Network Function Virtualization and the inevitable adoption necessity confronting Service Providers. NFV has been at the heart of RDCM's strategic positioning and product development for most of 6 years. Radcom shifted its product portfolio to a pure software-based strategy and positioned itself for NFV deployments, and we believe this has paid off. After an intensive bake-off, Radcom received high marks in the evaluation of a top Tier 1 US Service Provider and won a major multi-year contract. We think this win provides the base reference account that will drive additional significant new wins and drive growth."

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 $11.29 yesterday.

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