Oppenheimer Reiterates Perform on Microvision, Inc. Following 1Q:15 Results
Oppenheimer analyst Andrew Uerkwitz came out with a few insights on Microvision, Inc. (NASDAQ:MVIS), after the company released its first-quarter earnings results, posting revenues/loss per share of $0.9 million/($0.09), compared to the Street’s $5.9 million/$0.02 and Uerkwitz’s $10.8 million/($0.12). The analyst reiterated a Perform rating on the stock, while no price target was provided.
Uerkwitz observed, “With a growing backlog (up to $19M), several deals signed or in process (awaiting customer feedback), and product on the shelf, Microvision has made several big steps forward over the last two years. Moving forward, execution will be even more key. Balancing and growing its Sony-related business, building solutions for logistics, automotive HUDs, and moving technology into new areas, MVIS will have to continue to execute. The many opportunities show the promise in the technology.”
“While MVIS now has revenue visibility through the Sony contract, the beginnings of revenue diversification through pico-projector maker Celluon/other OEMS, and resources to focus on future growth opportunities, we stay sidelined as the total market opportunity remains unproven to us.”, the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 3.4% and a 56.3% success rate. Uerkwitz is ranked #1223 out of 3589 analysts.