Needham & Company LLC Lowers Radcom (NASDAQ:RDCM) Price Target to $14.00

Radcom (NASDAQ:RDCM) had its price objective dropped by analysts at Needham & Company LLC from $18.00 to $14.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 33.97% from the company’s previous close.

Separately, Wall Street Zen downgraded shares of Radcom from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Radcom Stock Performance

Shares of RDCM stock traded up $0.40 on Wednesday, reaching $10.45. 166,151 shares of the company were exchanged, compared to its average volume of 150,538. Radcom has a 1 year low of $9.40 and a 1 year high of $16.74. The business has a 50-day moving average price of $12.84 and a 200 day moving average price of $12.91. The company has a market cap of $174.93 million, a price-to-earnings ratio of 13.93 and a beta of 0.74.

Radcom (NASDAQ:RDCM) last issued its quarterly earnings results on Wednesday, August 12th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.33). Radcom had a return on equity of 11.68% and a net margin of 17.18%.The firm had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $15.57 million. As a group, equities analysts anticipate that Radcom will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Nano Cap New Millennium Growth Fund L P purchased a new position in Radcom during the 4th quarter valued at about $1,334,000. XTX Topco Ltd purchased a new position in shares of Radcom in the fourth quarter valued at approximately $196,000. Goldman Sachs Group Inc. boosted its stake in shares of Radcom by 20.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 24,026 shares of the technology company’s stock valued at $314,000 after purchasing an additional 4,140 shares during the period. Bank of America Corp DE grew its holdings in shares of Radcom by 93.8% in the third quarter. Bank of America Corp DE now owns 9,014 shares of the technology company’s stock valued at $131,000 after purchasing an additional 4,364 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Radcom during the 3rd quarter worth approximately $211,000. 48.32% of the stock is currently owned by institutional investors and hedge funds.

Radcom Company Profile

Radcom Ltd. (NASDAQ: RDCM) is a provider of cloud-based service assurance and analytics solutions designed to help communications service providers monitor and optimize the performance of their networks. Its flagship product, RADCOM ACE, delivers real-time visibility into service quality, subscriber experience and network resource utilization across traditional and virtualized architectures. By combining packet-level data collection with advanced analytics and machine-learning algorithms, Radcom enables carriers to detect, troubleshoot and resolve network and service issues before they impact end users.

Founded in 1991 and headquartered in Tel Aviv, Israel, Radcom has evolved from an early vendor of network testing equipment into a specialist in end-to-end assurance for voice, data, video and next-generation services.