Globe says Sandvine wins back market supportGlobe says Sandvine wins back market support 2014-04-21 09:13 ET - In the News
The Globe and Mail reports in its Friday edition that for years, Sandvine was just another tech that failed to live up to its hype. The Globe's Tim Shufelt writes that now, the company finally looks poised to establish a dominant position in a promising sector. The Waterloo, Ont., company's software allows cable and phone service providers to manage traffic over their networks. Sandvine's stock has appealed to investors looking for exposure to the increasing demand for broadband. "Networks are becoming more intelligent," said Patrick Horan at Agilith Capital. "They're trying to get to that point and Sandvine is integral to that cycle." And yet, for most of Sandvine's history, the stock has been anything but a pretty good bet. In 2007, the stock peaked at $7.10 and a market capitalization just shy of $1-billion. By the end of 2008, Sandvine's share price sunk to a low of 61 cents. Investors, analysts and money managers have slowly come back around to Sandvine over the past couple of years. The stock has more than tripled since the end of 2011 to hit a six-year high of about $3.60. Ten out of 12 analysts covering the stock rate it a "buy," at an average share price target of $4.51.
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