Needham & Company Reiterates Buy on Radcom Ltd. (RDCM) Following 2Q and Expansion Announcements
Needham & Company reiterated a Buy rating on Radcom (NASDAQ: RDCM), and raised the price target to $17.00 (from $16.00), following the company's 2Q earnings report. RDCM also announced a major expansion of their AT&T relationship with an additional follow on order.
Analyst Alex Henderson commented, "Radcom announced a major expansion of their AT&T relationship with an additional follow on order. They also announced they are launching a major new product area adjacent to the core MaveriQ vProbe line although for competitive reasons they have not named or defined this new product apparently AT&T is already buying it and its in field trials with a number of Tier 1 customers. Radcom also announced they have nearly doubled their Tier 1 trials from 5 to 9 over the course of the quarter. They also Beat street Revenue and EPS estimates. We are increasing our estimates and Target Price and Reiterating our Buy rating."
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 $14.35 yesterday.