Jefferies Downgrades DragonWave (DRWI) to Hold
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Price: $2.46 -6.46%
Rating Summary:
1 Buy, 7 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
1 Buy, 7 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade DRWI Now!
Jefferies downgraded DragonWave (NASDAQ: DRWI) from Buy to Hold and slashed its price target from $10 to $3 after Q4 results with weaker GM due to pricing pressure.
The firm comments, "We expected a big inflection in FQ1 (May), but guidance was weak due to the NSN deal and Sprint ramp being delayed. Longer-term the revenue and earnings trajectory from the NSN deal and Sprint ramp will likely be flatter than we had hoped. We are cutting our estimates, cutting our target to $3, and downgrading to a Hold."
For an analyst ratings summary and ratings history on DragonWave click here. For more ratings news on DragonWave click here.
Shares of DragonWave closed at $3.43 yesterday, with a 52 week range of $2.70-$8.00.
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The firm comments, "We expected a big inflection in FQ1 (May), but guidance was weak due to the NSN deal and Sprint ramp being delayed. Longer-term the revenue and earnings trajectory from the NSN deal and Sprint ramp will likely be flatter than we had hoped. We are cutting our estimates, cutting our target to $3, and downgrading to a Hold."
For an analyst ratings summary and ratings history on DragonWave click here. For more ratings news on DragonWave click here.
Shares of DragonWave closed at $3.43 yesterday, with a 52 week range of $2.70-$8.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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