Sierra Wireless, Inc. (USA) (NASDAQ:SWIR) announced that Arval, a leader in full service vehicle leasing, fleet management, and usage-based insurance owned by BNP Paribas, has selected Sierra Wireless device-to-cloud technology to build its new global telematics solution.
Arval selected Sierra Wireless because the AirVantage cloud provides an accelerated development path – the cloud platform was already built and integrated with AirPrime embedded modules, and was able to easily connect to third-party application servers and their own web applications. With the wireless integration and management already covered, Arval was able to focus on the portion of the solution that offers value and differentiates it from competitors. In addition, AirVantage leverages standard device protocols, making it compatible with a wide variety of connected devices and future-proof in terms of compatibility with additional devices and services as Arval expands its service offering to its customers.
“Arval is an industry leader with a clear vision of how a connected service model can enable the company to better serve its customers and enhance its core business,” said Emmanuel Walckenaer, Senior Vice President, Enterprise Solutions for Sierra Wireless. “This collaboration demonstrates the value of a device-to-cloud solution in accelerating innovation in transportation and fleet management, but the model works across many industries and applications. We enable an organization to focus on developing the portion of the solution that is unique and tailored to its customers, knowing that the wireless connectivity and communication functions are already integrated and tested.” (Original Source)
Shares of Sierra Wireless closed last Friday at $25.59 . SWIR has a 1-year high of $49.13 and a 1-year low of $18.50. The stock’s 50-day moving average is $29.62 and its 200-day moving average is $36.00.
On the ratings front, Canaccord Genuity analyst Michael Walkley reiterated a Buy rating on SWIR, with a price target of $44, in a report issued on June 7. The current price target implies an upside of 71.9% from current levels.
According to TipRanks.com, Walkley has a total average return of 23.6%, a 69.3% success rate, and is ranked #5 out of 3681 analysts.
Sierra Wireless Inc provides cellular wireless solutions to machine-to-machine and connected device markets. Itsproducts, services and solutions connect people, their mobile computers and machines to wireless voice and data networks around the world.