Zacks Research Upgrades Radcom (NASDAQ:RDCM) to “Hold”

Radcom (NASDAQ:RDCM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Several other equities analysts also recently weighed in on RDCM. Needham & Company LLC reduced their target price on shares of Radcom from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of Radcom from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, September 9th. Finally, Wall Street Zen upgraded shares of Radcom from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Radcom Trading Up 0.5%

Shares of RDCM opened at $10.22 on Monday. The firm’s fifty day simple moving average is $10.21 and its two-hundred day simple moving average is $12.45. Radcom has a 12 month low of $9.40 and a 12 month high of $16.74. The stock has a market capitalization of $171.08 million, a P/E ratio of 24.33 and a beta of 0.76.

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

Radcom announced that its board has authorized a share repurchase plan on Thursday, September 17th that permits the company to repurchase $20.00 million in shares. This buyback authorization permits the technology company to reacquire up to 11.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Radcom

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in Radcom during the second quarter valued at approximately $35,000. Lazard Asset Management LLC bought a new stake in Radcom in the 1st quarter worth approximately $236,000. NewEdge Advisors LLC bought a new stake in Radcom in the 1st quarter worth approximately $369,000. Janney Montgomery Scott LLC raised its holdings in shares of Radcom by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 327,479 shares of the technology company’s stock worth $3,982,000 after acquiring an additional 5,380 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of 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 acquiring an additional 7,372 shares in the last quarter. Institutional investors 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.