Stock Repurchase Program Declared by Radcom (NASDAQ:RDCM) Board

Radcom (NASDAQ:RDCM) announced that its board has authorized a share repurchase program on Thursday, September 17th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Radcom Trading Down 2.1%

Shares of NASDAQ:RDCM opened at $10.37 on Friday. Radcom has a 52 week low of $9.40 and a 52 week high of $16.74. The company’s 50 day moving average is $11.03 and its two-hundred day moving average is $12.53. The company has a market cap of $173.59 million, a PE ratio of 24.69 and a beta of 0.74.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on RDCM shares. Needham & Company LLC decreased their target price on Radcom from $18.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Zacks Research downgraded Radcom from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Weiss Ratings lowered Radcom from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. Finally, Wall Street Zen raised Radcom from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

Radcom Company Profile

RADCOM Ltd. (NASDAQ: RDCM) is an Israel-based provider of network intelligence and service assurance solutions for telecommunications operators. The company helps communications service providers monitor, analyze and optimize mobile and fixed networks, with a focus on cloud-native, virtualized and 5G network environments.

RADCOM’s portfolio includes solutions for network visibility, service quality monitoring, performance management and automated troubleshooting. Its software is designed to collect and analyze data from complex network infrastructures, enabling operators to identify service issues, improve customer experiences and support the rollout and operation of new network technologies.

Founded in 1991, RADCOM serves telecommunications companies and network operators in international markets.