There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Fusion Telecommunications (Other OTC:FSNN), Cynergistek Inc (NYSE:CTEK) and TrueCar (NASDAQ:TRUE) with bullish sentiments.
Fusion Telecommunications (FSNN)
B.Riley FBR analyst Josh Nichols maintained a Buy rating on Fusion Telecommunications today and set a price target of $9.75. The company’s shares opened today at $4.29.
Nichols observed:
“Buy-rated Fusion Connect (FSNN, $9.75 PT) reports 2Q results on Tuesday, 8/14, call at 4:30PM ET (Dial-in: Conference ID: 2517795). We model 2Q revenue of $117M and EBITDA of $26M (21.9% margin) relative to consensus $121M and $25M, respectively. Management acquired the cloud and business services division of MegaPath as of 6/15, which will make for a somewhat noisy quarter. However, we believe Fusion scored a sizable win with the acquisitions, marking a pivot point for the company now that the management team led by Chairman and CEO Matt Rosen has created a leading cloud services platform considerable scale.”
According to TipRanks.com, Nichols is a 5-star analyst with an average return of 27.7% and a 59.8% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fusion Telecommunications with a $9.75 average price target.
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Cynergistek Inc (CTEK)
In a report released today, Andrew D’silva from B.Riley FBR reiterated a Buy rating on Cynergistek Inc, with a price target of $7.25. The company’s shares opened today at $3.70.
D’silva observed:
“CynergisTek, Inc. (CTEK-Buy, $7.25 PT) reported 2Q18 results before the open today, 8/9, and will hold a conference call at 2:00pm ET later today. The dial-in and conference ID numbers are and 3874636, respectively. The company posted a top-line/adj. EPS/adj. EBITDA of $16.9M/$0.08/$1.1M versus our/consensus estimates of $16.0M/$0.02/$0.4M and $16.4M/$0.04/$0.7M, respectively. The top-line beat was primarily due to stronger equipment sales than we projected. CTEK’s bottom-line also benefited from the revenue beat, but further benefited from gross margins coming in slightly stronger than we modeled for, as well as modestly lower opex.”
According to TipRanks.com, D’silva is a 5-star analyst with an average return of 25.3% and a 54.4% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cytori Therapeutics Inc, Oramed Pharmaceuticals, and Sorrento Therapeutics.
Currently, the analyst consensus on Cynergistek Inc is a Moderate Buy with an average price target of $6.93.
TrueCar (TRUE)
In a report released today, Sameet Sinha from B.Riley FBR reiterated a Buy rating on TrueCar, with a price target of $18. The company’s shares opened today at $11.78.
Sinha noted:
“TrueCar (TRUE) reported an in-line 2Q, guided 3Q in line, and reiterated full-year guidance; shares were flat AH. 2Q revenue/AEBITDA came in at $87.9M/$8.7M, versus our estimates of $87.3M/$7.4M and consensus $87.8M/$8.5M, driven by stronger unit sales. The number of dealers came in ahead of expectation as well. 3Q guidance was in line and FY18 guidance was maintained. We are happy with the trajectory of unit growth, providing us confidence in 2H18 guidance, which we viewed as aggressive. Management reiterated its goal of accelerating growth through the year and finally delivering on the 20% growth target in 2020, versus current consensus at 15%. With core business turning, dealers growing, OEM Incentives gaining traction (Ford just signed up) and Trade-in being deployed, we believe the goal is becoming easier.”
According to TipRanks.com, Sinha is a 4-star analyst with an average return of 6.3% and a 52.8% success rate. Sinha covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Alphabet Inc.
TrueCar has an analyst consensus of Hold, with a price target consensus of $13.50, which is a 14.6% upside from current levels. In a report released today, Benchmark Co. also maintained a Buy rating on the stock with a $18 price target.
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