This Radcom Analyst Believes Stock Is Poised For A 'Break Out' Once Telco Recovers

Shares of Radcom Ltd (NASDAQ: RDCM) were climbing in early trading on Thursday.

The Paramus, New Jersey-based company is playing a role in helping solve technical issues that are slowing 5G transitions, according to Needham.

The Radcom Analyst: Alex Henderson upgraded the rating for Radcom from Hold to Buy, while establishing a price target of $8.50.

The Radcom Thesis: The company has generated steady growth, expanding its gross and operating margins, even while broadening its portfolio and sales reach, and winning new customers, Henderson said in the upgrade note.

Check out other analyst stock ratings.

“Radcom has gone from losing $0.23/share to profitability of $0.50+ over the last three years,” the analyst wrote.

“Radcom believes it has solid visibility in CY24 with strong growth and expanding margins,” Moss stated. “We believe the stock has set a solid foundation to break out once the Telco environment recovers and as 5G progress inevitably moves forward,” he added.

RDCM Price Action: Shares of Radcom had risen by 5.76% to $9.00 at the time of publishing on Thursday.

Image: Courtesy of Radcom