Intellicheck Mobilisia (NYSE: IDN) received a Hold rating from Oppenheimer analyst Shaul Eyal today. The company’s shares closed yesterday at $2.08.
Eyal noted:
“We are downgrading IDN to and removing our price target of $3.00, following 2Q18 results that fell below our revenue estimate. Reasons for the downgrade include: (1) While we believe IDN is making decent progress with its sales reorganization initiatives, these transitions tend to have a lumpy impact on execution, driving revenue unpredictability. (2) IDN’s shift to a SaaS revenue model, which has exhibited moderated growth in recent quarters, remains impacted by its declining non-SaaS business (-42% of revenues). (3) We are lowering FY18-19 estimates to reflect continued delays to deals. We are stepping to the sidelines awaiting IDN’s transition to be completed before becoming more constructive with our views.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.1% and a 67.2% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
The word on The Street in general, suggests a Hold analyst consensus rating for Intellicheck Mobilisia.
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Based on Intellicheck Mobilisia’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.1 million. In comparison, last year the company had a GAAP net loss of $1.1 million.
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Intellicheck, Inc. engages in developing, integrating, and marketing identity authentication systems for various applications including mobile, handheld and integrated systems for the government, military and commercial markets.
