CIBC Lowers DragonWave Price Target to $2.00 (DRWI)
Equities research analysts at CIBC lowered their price target on shares of DragonWave (NASDAQ:DRWI) from $2.50 to $2.00 in a research note issued to investors on Friday, AnalystRatingsNetwork.com reports. The firm currently has a “sector underperform” rating on the stock. CIBC’s target price suggests a potential upside of 11.11% from the company’s current price.
A number of other analysts have also recently weighed in on DRWI. Analysts at Canaccord Genuity cut their price target on shares of DragonWave from $2.10 to $1.75 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of DragonWave in a research note to investors on Thursday, September 19th. They now have a $2.75 price target on the stock. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. DragonWave has a consensus rating of “Hold” and an average target price of $1.86.
Shares of DragonWave (NASDAQ:DRWI) traded up 13.92% on Friday, hitting $1.80. The stock had a trading volume of 1,698,222 shares. 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 $2.36 and its 200-day moving average is $2.49. The company’s market cap is $68.6 million.
DragonWave (NASDAQ:DRWI) last released its earnings data on Wednesday, October 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.04. The company had revenue of $28.80 million for the quarter, compared to the consensus estimate of $28.42 million. 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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