Zacks Investment Research Upgrades RADCOM (NASDAQ:RDCM) to Buy

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Zacks Investment Research upgraded shares of RADCOM (NASDAQ:RDCM) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. They currently have $9.00 target price on the technology company’s stock.

According to Zacks, “RADCOM LTD. designs, manufactures, markets and supports innovative, high performance internetworking test and analysis equipment for data communications networks. Their products are used in the development and manufacturing of network equipment, the installation of networks, and the ongoing maintenance of operational networks. (Press Release) “

RDCM stock opened at $8.05 on Wednesday. RADCOM has a 1-year low of $6.96 and a 1-year high of $21.75. The business has a fifty day simple moving average of $8.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.84 and a quick ratio of 9.80.

RADCOM (NASDAQ:RDCM) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.14. RADCOM had a negative return on equity of 7.41% and a negative net margin of 20.15%. The firm had revenue of $6.05 million during the quarter, compared to analysts’ expectations of $3.50 million. As a group, research analysts anticipate that RADCOM will post -0.71 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of RDCM. Van ECK Associates Corp increased its position in RADCOM by 50.4% during the fourth quarter. Van ECK Associates Corp now owns 4,832 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,619 shares during the last quarter. Two Sigma Investments LP increased its position in RADCOM by 77.8% during the fourth quarter. Two Sigma Investments LP now owns 24,924 shares of the technology company’s stock valued at $185,000 after acquiring an additional 10,905 shares during the last quarter. ARK Investment Management LLC increased its position in RADCOM by 9.4% during the first quarter. ARK Investment Management LLC now owns 57,532 shares of the technology company’s stock valued at $427,000 after acquiring an additional 4,947 shares during the last quarter. Finally, Delek Group Ltd. increased its position in RADCOM by 1.9% during the first quarter. Delek Group Ltd. now owns 285,264 shares of the technology company’s stock valued at $2,106,000 after acquiring an additional 5,264 shares during the last quarter. Hedge funds and other institutional investors own 24.22% of the company’s stock.

RADCOM Company Profile

RADCOM Ltd. provides service assurance and customer experience management solutions for communication service providers (CSPs). Its carrier-grade solutions support mobile and fixed networks, and scale to terabit data bandwidths to enable data analytics. The company offers solutions for virtualized infrastructure and next-generation networks.

See Also: Earnings Reports

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