DragonWave, Inc.(USA) Price Target Increased to $2.00 by Analysts at Canaccord Genuity (DRWI)
Stock analysts at Canaccord Genuity raised their price target on shares of DragonWave, Inc.(USA) (NASDAQ:DRWI) from $1.25 to $2.00 in a report issued on Friday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective indicates a potential downside of 15.61% from the company’s current price.
Shares of DragonWave, Inc (NASDAQ:DRWI) traded down 2.53% on Friday, hitting $2.3101. The stock had a trading volume of 885,045 shares. DragonWave, Inc has a 1-year low of $1.08 and a 1-year high of $3.58. The stock has a 50-day moving average of $1.59 and a 200-day moving average of $1.46. The company’s market cap is $134.5 million.
DragonWave, Inc.(USA) (NASDAQ:DRWI) last issued its quarterly earnings data on Wednesday, July 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $28.80 million for the quarter, compared to the consensus estimate of $27.20 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts predict that DragonWave, Inc will post $-0.35 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on DRWI. Analysts at TD Securities upgraded shares of DragonWave, Inc.(USA) from a “reduce” rating to a “hold” rating in a research note on Friday. They now have a $2.75 price target on the stock, up previously from $1.00. Finally, analysts at Scotiabank raised their price target on shares of DragonWave, Inc.(USA) from C$1.20 to C$1.80 in a research note on Monday. They now have an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $2.03.
DragonWave Inc (NASDAQ:DRWI) is in the business of developing broadband wireless backhaul and pseudowire equipment.
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