DragonWave Given New $1.35 Price Target at Scotiabank (DRWI)
Analysts at Scotiabank cut their price objective on shares of DragonWave (NASDAQ:DRWI) from $1.40 to $1.35 in a research report issued to clients and investors on Thursday, AnalystRatings.Net reports. Scotiabank’s price target would indicate a potential downside of 33.17% from the stock’s previous close.
DragonWave (NASDAQ:DRWI) traded up 0.05% during mid-day trading on Thursday, hitting $2.02. The stock had a trading volume of 838,732 shares. DragonWave has a one year low of $1.37 and a one year high of $3.74. The stock has a 50-day moving average of $2.89 and a 200-day moving average of $2.47. The company’s market cap is $77.0 million.
DragonWave (NASDAQ:DRWI) last issued its quarterly earnings data on Wednesday, July 10th. The company reported ($0.17) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.35) earnings per share. DragonWave’s revenue was up 89.1% compared to the same quarter last year. Analysts expect that DragonWave will post $-0.87 EPS for the current fiscal year.
A number of other firms have also recently commented on DRWI. Analysts at Raymond James raised their price target on shares of DragonWave (NASDAQ:DRWI) from $1.75 to $2.00 in a research note to investors on Friday, July 12th. They now have a “market perform” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of DragonWave (NASDAQ:DRWI) from $2.00 to $2.75 in a research note to investors on Friday, July 12th. They now have a “hold” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of DragonWave (NASDAQ:DRWI) from $1.90 to $2.60 in a research note to investors on Friday, July 12th. They now have a “hold” rating on the stock.
Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $2.12.
DragonWave Inc (NASDAQ:DRWI) is a provider of high-capacity Ethernet microwave solutions for Internet protocol (IP) networks.
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