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Analysts at Canaccord Genuity boosted their target price on shares of DragonWave (NASDAQ: DRWI) from $1.90 to $2.60 in a research report issued to clients and investors on Friday, Stock Ratings Network reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price would suggest a potential downside of 13.04% from the stock’s previous close.
Shares of DragonWave (NASDAQ: DRWI) traded up 2.75% during mid-day trading on Friday, hitting $2.99. DragonWave has a one year low of $1.37 and a one year high of $3.07. The stock’s 50-day moving average is currently $2.69. The company’s market cap is $113.8 million.
DragonWave (NASDAQ: DRWI) last posted its quarterly earnings results on Wednesday, July 10th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.18. The company had revenue of $24.53 million for the quarter, compared to the consensus estimate of $29.33 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was up 89.1% on a year-over-year basis. Analysts expect that DragonWave will post $-0.89 EPS for the current fiscal year.
Separately, analysts at Scotiabank cut their price target on shares of DragonWave from $1.60 to $1.50 in a research note to investors on Friday, May 10th.
Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $2.14.
DragonWave Inc (NASDAQ: DRWI) is a provider of high-capacity Ethernet microwave solutions for Internet protocol (IP) networks.Image may be NSFW.
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