Radcom (NASDAQ:RDCM) Stock Lifted to Hold by Zacks Research

Zacks Research upgraded shares of Radcom (NASDAQ:RDCM) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks reports.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen raised Radcom from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Needham & Company LLC lowered their price objective on Radcom from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, Weiss Ratings cut Radcom from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

Radcom Stock Up 0.5%

Shares of Radcom stock opened at $10.22 on Monday. The firm’s 50 day moving average price is $10.21 and its 200-day moving average price is $12.45. Radcom has a 52-week low of $9.40 and a 52-week high of $16.74. The company has a market cap of $171.08 million, a P/E ratio of 24.33 and a beta of 0.76.

Radcom (NASDAQ:RDCM) last posted its earnings results on Wednesday, August 12th. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.33). Radcom had a net margin of 10.47% and a return on equity of 6.51%. The firm had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $15.57 million. As a group, equities research analysts forecast that Radcom will post -0.03 EPS for the current fiscal year.

Radcom announced that its Board of Directors has authorized a share buyback program on Thursday, September 17th that allows the company to buy back $20.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 11.8% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Radcom

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in Radcom during the second quarter valued at $35,000. Janney Montgomery Scott LLC boosted its holdings in Radcom by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 327,479 shares of the technology company’s stock valued at $3,982,000 after purchasing an additional 5,380 shares during the last quarter. Private Advisor Group LLC grew its position in Radcom by 2.1% during the 1st quarter. Private Advisor Group LLC now owns 351,019 shares of the technology company’s stock worth $4,268,000 after purchasing an additional 7,372 shares during the period. Lazard Asset Management LLC acquired a new stake in Radcom during the 1st quarter worth about $236,000. Finally, NewEdge Advisors LLC acquired a new stake in Radcom during the 1st quarter worth about $369,000. Institutional investors and hedge funds own 48.32% of the company’s stock.

Radcom Company Profile

Radcom Ltd. (NASDAQ: RDCM) is an Israel-based provider of cloud-native service assurance and network intelligence solutions for communication service providers. Founded in 1991, the company develops software that helps telecommunications operators monitor network performance, identify service issues and improve customer experience across complex, evolving networks.

Radcom’s product portfolio is designed to support 4G and 5G mobile networks, cloud-based network functions and other virtualized telecommunications environments.