Needham Believes DZS (NASDAQ: DZSI) Still Has Room to Grow

By Austin Angelo

In a report issued on June 21, Ryan Koontz from Needham initiated coverage with a Buy rating on DZS (DZSIResearch Report) and a price target of $26.00. The company’s shares closed last Wednesday at $21.53, close to its 52-week high of $23.48.

According to TipRanks.com, Koontz is a 5-star analyst with an average return of 24.5% and a 67.6% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, CommScope Holding, and KVH Industries.

Currently, the analyst consensus on DZS is a Strong Buy with an average price target of $24.50.

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Based on DZS’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $81.03 million and GAAP net loss of $23.23 million. In comparison, last year the company earned revenue of $47.48 million and had a GAAP net loss of $8.77 million.

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DASAN Zhone Solutions Inc. engages in the provision of broad-based network access solutions. It offers solutions for broadband access, Ethernet switching, mobile backhaul, passive optical local-area network (POL), and software defined networks (SDN). The company was founded in June 1999 and is headquartered in Oakland, CA.