DragonWave Stock Rating Reaffirmed by Jefferies Group (DRWI)
DragonWave (NASDAQ:DRWI)‘s stock had its “hold” rating restated by research analysts at Jefferies Group in a report released on Thursday, AnalystRatingsNetwork reports. They currently have a $2.75 price target on the stock. Jefferies Group’s target price indicates a potential upside of 36.14% from the stock’s previous close.
DragonWave (NASDAQ:DRWI) traded up 0.05% on Thursday, hitting $2.02. 838,732 shares of the company’s stock traded hands. DragonWave has a 1-year low of $1.37 and a 1-year high of $3.74. The stock’s 50-day moving average is $2.89 and its 200-day moving average is $2.47. The company’s market cap is $77.0 million.
DragonWave (NASDAQ:DRWI) last announced its 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 $-0.87 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Scotiabank cut their price target on shares of DragonWave (NASDAQ:DRWI) from $1.40 to $1.35 in a research note to investors on Thursday. Finally, 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.
Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average 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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