DragonWave Price Target Cut to $2.00 by Analysts at Jefferies Group (DRWI)
Investment analysts at Jefferies Group reduced their price target on shares of DragonWave (NASDAQ:DRWI) from $2.75 to $2.00 in a note issued to investors on Friday, AmericanBankingNews.com reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price points to a potential upside of 11.11% from the company’s current price.
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 52 week low of $1.37 and a 52 week 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 issued its quarterly 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.
DRWI has been the subject of a number of other recent research reports. Analysts at CIBC cut their price target on shares of DragonWave from $2.50 to $2.00 in a research note to investors on Friday. They now have a “sector underperform” rating on the stock. Separately, 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 Canaccord Genuity cut their price target on shares of DragonWave from $2.60 to $2.10 in a research note to investors on Wednesday, October 2nd. They now have a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. DragonWave has an average rating of “Hold” and an average price target of $1.86.
DragonWave Inc (NASDAQ:DRWI) is a provider of high-capacity Ethernet microwave solutions for Internet protocol (IP) networks.
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