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

Radcom (NASDAQ:RDCM) had its price objective reduced by Needham & Company LLC from $18.00 to $14.00 in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

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

Radcom Stock Performance

Shares of NASDAQ RDCM opened at $10.49 on Wednesday. Radcom has a 52-week low of $9.40 and a 52-week high of $16.74. The stock has a market cap of $175.60 million, a P/E ratio of 24.98 and a beta of 0.74. The firm has a 50 day moving average price of $12.63 and a 200 day moving average price of $12.85.

Radcom (NASDAQ:RDCM) last posted its earnings results on Wednesday, August 12th. The technology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.33). The firm had revenue of $11.76 million during the quarter, compared to analyst estimates of $15.57 million. Radcom had a return on equity of 6.51% and a net margin of 10.47%. Analysts predict that Radcom will post 0.59 earnings per share for the current fiscal year.

Institutional Trading of Radcom

Several hedge funds have recently bought and sold shares of RDCM. Raymond James Financial Inc. bought a new position in Radcom in the second quarter valued at approximately $34,000. Lazard Asset Management LLC increased its position in shares of Radcom by 171.1% during the second quarter. Lazard Asset Management LLC now owns 8,136 shares of the technology company’s stock worth $110,000 after acquiring an additional 5,135 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Radcom by 93.8% during the third quarter. Bank of America Corp DE now owns 9,014 shares of the technology company’s stock worth $131,000 after acquiring an additional 4,364 shares during the period. Jump Financial LLC acquired a new stake in shares of Radcom during the second quarter worth $165,000. Finally, Boothbay Fund Management LLC bought a new stake in Radcom in the 3rd quarter valued at $211,000. 48.32% of the stock is currently owned by institutional investors and hedge funds.

About Radcom

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.