Needham analyst Alex Henderson upgraded Radcom to Buy from Hold with a $14 price target. Radcom is embracing the complexity of 5G and helping to solve technical issues slowing 5G transitions, the analyst tells investors in a research note. The firm says the company has beaten expectations, driven steady growth, and expanded its margin, all while broadening its portfolio, broadening its sales reach, and winning new customers. Needham thinks the stock “looks cheap” with 50%-plus of the company’s enterprise value in cash. Radcom believes it has solid visibility in 2024 with strong growth and expanding margins, and the stock “has set a solid foundation to break out once the Telco environment recovers and as 5G progress inevitably moves forward,” contends Needham.
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