Radcom (NASDAQ:RDCM) to Repurchase $20.00 million in Outstanding Shares

Radcom (NASDAQ:RDCM) declared that its board has authorized a share repurchase plan on Thursday, September 17th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 11.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Radcom Trading Up 4.3%

NASDAQ:RDCM traded up $0.44 on Thursday, hitting $10.59. The company’s stock had a trading volume of 225,561 shares, compared to its average volume of 107,392. Radcom has a one year low of $9.40 and a one year high of $16.74. The firm has a market capitalization of $177.28 million, a P/E ratio of 25.21 and a beta of 0.74. The stock has a fifty day moving average of $11.11 and a two-hundred day moving average of $12.55.

Radcom (NASDAQ:RDCM) last issued its earnings results on Wednesday, August 12th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.33). Radcom had a return on equity of 6.51% and a net margin of 10.47%.The business had revenue of $11.76 million for the quarter, compared to the consensus estimate of $15.57 million. As a group, sell-side analysts anticipate that Radcom will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RDCM. Needham & Company LLC lowered their price target on shares of Radcom from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings cut Radcom from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, September 9th. Zacks Research lowered shares of Radcom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Radcom from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Radcom Company Profile

RADCOM Ltd. (NASDAQ: RDCM) is an Israel-based provider of network intelligence and service assurance solutions for telecommunications operators. The company helps communications service providers monitor, analyze and optimize mobile and fixed networks, with a focus on cloud-native, virtualized and 5G network environments.

RADCOM’s portfolio includes solutions for network visibility, service quality monitoring, performance management and automated troubleshooting. Its software is designed to collect and analyze data from complex network infrastructures, enabling operators to identify service issues, improve customer experiences and support the rollout and operation of new network technologies.

Founded in 1991, RADCOM serves telecommunications companies and network operators in international markets.