DragonWave Price Target Cut to $2.10 by Analysts at Canaccord Genuity (DRWI)
Equities researchers at Canaccord Genuity dropped their price target on shares of DragonWave (NASDAQ:DRWI) from $2.60 to $2.10 in a research report issued on Wednesday, American Banking News reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target would indicate a potential upside of 4.48% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of DragonWave (NASDAQ:DRWI) in a research note to investors on Thursday, September 19th. They now have a $2.75 price target on the stock. Separately, 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, September 19th. Finally, analysts at Scotiabank reiterated an “underperform” rating on shares of DragonWave (NASDAQ:DRWI) in a research note to investors on Monday, July 15th. They now have a $1.40 price target on the stock, down previously from $1.50. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $2.03.
Shares of DragonWave (NASDAQ:DRWI) traded down 3.83% during mid-day trading on Wednesday, hitting $2.01. The stock had a trading volume of 366,067 shares. DragonWave has a one year low of $1.37 and a one year high of $3.74. The stock’s 50-day moving average is $2.57 and its 200-day moving average is $2.49. The company’s market cap is $76.6 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. On average, analysts predict that DragonWave will post $-0.87 earnings per share for the current fiscal year.
DragonWave Inc (NASDAQ:DRWI) is a provider of high-capacity Ethernet microwave solutions for Internet protocol (IP) networks.
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