DragonWave PT Lowered to $1.25 (DRWI)
Scotiabank lowered their price target on shares of DragonWave (NASDAQ:DRWI) from $1.35 to $1.25 in a research note issued on Friday, Stock Ratings News reports. Scotiabank’s price target suggests a potential downside of 30.56% from the stock’s previous close.
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 52-week low of $1.37 and a 52-week 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 posted its quarterly earnings results 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group cut their price target on shares of DragonWave from $2.75 to $2.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, 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. Finally, 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. Three investment 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 target price 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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