CalAmp Corp. (NASDAQ:CAMP), a leading provider of wireless products, services and solutions, announced the launch of CVF-200™, its next-generation CDMA GPS tracking device enabled with SkySmart™ technology, an integrated end-to-end technology suite to provide the most flexible and reliable collateral assurance solution available on the market. SkySmart coupled with the CVF-200 is commercially available through CalAmp’s LenderOutlook™ collateral assurance solution, and provides finance companies and Buy Here Pay Here (BHPH) automobile lenders with optimum connectivity to their assets, facilitating loan portfolio expansion with less risk and ensuring faster and more efficient asset recovery.
“Collecting payments and recovering collateral assets in a timely manner is critical to profitability in the automotive subprime lending market,” said Michael Zachan, Senior Vice President and General Manager ofCalAmp’s Wireless Networks business. “SkySmart technology is designed to provide critical data, diagnostics and asset location information to significantly reduce annual costs associated with collections staff, repossessions and loss.”
CalAmp’s SkySmart technology suite delivers a range of highly configurable new features which increase performance reliability while also providing greater control and flexibility. The SkySmart dual processor architecture maximizes performance, availability and reliable communications resulting in higher success rates for critical device and asset communications even in fringe coverage areas, leading to improved recovery results. Its unique tamper-sensing and power management features enables three hours of operation with the integrated back-up battery for real-time notification and location data if vehicle power is lost for any reason. SkySmart also incorporates extensive over-the-air device management capabilities to remotely configure and update firmware, which can be used to enable new features or diagnose and resolve issues in the field throughout the entire deployment lifecycle. (Original Source)
Shares of Calamp closed yesterday at $19.22. CAMP has a 1-year high of $21.82 and a 1-year low of $15.32. The stock’s 50-day moving average is $19.30 and its 200-day moving average is $18.51.
On the ratings front, Calamp has been the subject of a number of recent research reports. In a report issued on July 1, Canaccord Genuity analyst Michael Walkley maintained a Buy rating on CAMP, with a price target of $26, which represents a potential upside of 35.3% from where the stock is currently trading. Separately, on the same day, Northland Securities’ Michael Latimore maintained a Buy rating on the stock and has a price target of $28.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Walkley and Michael Latimore have a total average return of 22.2% and -5.0% respectively. Walkley has a success rate of 68.4% and is ranked #8 out of 3702 analysts, while Latimore has a success rate of 42.0% and is ranked #3522.
CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.