William Blair Initiates Coverage on Radcom Ltd. (RDCM)
Investment analysts at William Blair began coverage on shares of Radcom Ltd. (NASDAQ:RDCM) in a note issued to investors on Monday. The firm set a “buy” rating on the technology company’s stock.
The analysts wrote, “We believe the operator is Verizon (VZ $48.94; Market Perform). Our sources suggest that the initial order is approximately $10 million for Verizon’s virtualized core network (wireless evolved packet core). This differs from Radcom’s contract with AT&T (T $38.34; Market Perform) in that it is not an enterprisewide license, but rather it is for a specific part of its network handling a certain number of subscribers. We believe this contract could ultimately grow to be of larger size than AT&T (which is currently worth roughly $18 million annually over three years). Furthermore, other network deployments for NFV at this customer could be awarded throughout 2018, in our view , but will likely undergo similarly exhaustive bake-off processes.””
Several other equities analysts have also commented on RDCM. Zacks Investment Research lowered shares of Radcom from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of Radcom in a research report on Wednesday, August 9th. ValuEngine upgraded shares of Radcom from a “sell” rating to a “hold” rating in a research report on Sunday, September 3rd. Finally, BidaskClub upgraded shares of Radcom from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.00.
Radcom (NASDAQ:RDCM) opened at 21.65 on Monday. The firm’s 50-day moving average is $20.20 and its 200 day moving average is $19.99. The stock’s market capitalization is $253.07 million. Radcom has a 12 month low of $16.60 and a 12 month high of $22.45.
Radcom (NASDAQ:RDCM) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $8.92 million during the quarter, compared to analyst estimates of $8.68 million. Radcom had a negative net margin of 3.90% and a negative return on equity of 2.19%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. On average, equities analysts anticipate that Radcom will post $0.13 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in Radcom by 0.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 34,475 shares of the technology company’s stock valued at $667,000 after buying an additional 272 shares in the last quarter. Malaga Cove Capital LLC grew its position in Radcom by 9.1% in the 2nd quarter. Malaga Cove Capital LLC now owns 12,000 shares of the technology company’s stock valued at $224,000 after buying an additional 1,000 shares in the last quarter. ETF Managers Group LLC bought a new position in Radcom in the 2nd quarter valued at about $101,000. Russell Investments Group Ltd. grew its position in Radcom by 16.4% in the 1st quarter. Russell Investments Group Ltd. now owns 116,530 shares of the technology company’s stock valued at $2,505,000 after buying an additional 16,457 shares in the last quarter. Finally, Raging Capital Management LLC grew its position in Radcom by 18.5% in the 1st quarter. Raging Capital Management LLC now owns 576,050 shares of the technology company’s stock valued at $12,385,000 after buying an additional 89,773 shares in the last quarter. Hedge funds and other institutional investors own 15.12% of the company’s stock.
RADCOM Ltd. (RADCOM) provides service assurance and customer experience management solutions for communication service providers (CSPs). The Company provides solutions for networks, including long-term evolution (LTE), LTE Advanced (LTE-A), voice over LTE (VoLTE), Internet protocol multimedia subsystem (IMS), Voice over Internet protocol (VoIP), universal mobile telecommunications system (UMTS) or global system for mobile communications (GSM) and mobile broadband.
Receive News & Stock Ratings for Radcom Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radcom Ltd. and related stocks with our FREE daily email newsletter.