DragonWave Price Target Cut to $1.75 (DRWI)
Investment analysts at Canaccord Genuity decreased their price target on shares of DragonWave (NASDAQ:DRWI) from $2.10 to $1.75 in a note issued to investors on Friday, AnalystRatings.Net reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target would suggest a potential downside of 2.78% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Scotiabank cut their price target on shares of DragonWave 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 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. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $1.86.
Shares of DragonWave (NASDAQ:DRWI) traded up 13.92% during mid-day trading on Friday, hitting $1.80. The stock had a trading volume of 1,698,222 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 $2.36 and a 200-day moving average of $2.49. The company’s market cap is $68.6 million.
DragonWave (NASDAQ:DRWI) last issued its quarterly earnings data on Wednesday, October 9th. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters 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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