Analysts Offer Insights on Technology Companies: Orbcomm Inc (ORBC) and The Meet Group Inc (MEET)


There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Orbcomm Inc (NASDAQ:ORBC) and The Meet Group Inc (NYSE MKT:MEET) with bullish sentiments.

Orbcomm Inc (ORBC)

Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Orbcomm Inc yesterday and set a price target of $15. The company’s shares opened today at $10.88.

Walkley wrote:

“We believe Mr. Ford’s strong resume in finance and operations are a great fit for ORBCOMM, and we believe he is another strong addition to ORBCOMM’s management team. We believe his skills will help ORBCOMM manage ongoing profitable growth, as we believe ORBCOMM is on track to become over a $1B market cap company consistent with our price target. We believe adjusted EBITDA margins will continue to improve over the next several quarters due to the completed deployment of JB Hunt combined with an increasing mix of the the cost-down versions of key hardware SKUs. We believe ORBCOMM has a strong pipeline of opportunities to support management guidance of 350K-400K net subscriber additions in 2018.”

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 16.8% and a 63.3% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Adesto Technologies Corp, and Digi International Inc.

Orbcomm Inc has an analyst consensus of Moderate Buy, with a price target consensus of $14.50.

See today’s analyst top recommended stocks >>

The Meet Group Inc (MEET)

Canaccord Genuity analyst Austin Moldow maintained a Buy rating on The Meet Group Inc yesterday and set a price target of $6. The company’s shares opened today at $4.19.

Moldow noted:

“We continue to like MEET for two main reasons: 1) its new video monetization initiatives should lead to upward estimate revisions; and 2) expansion of video usage and the launch of new products should extend growth and improve margins. We believe today’s announcement delivers on both.”

Moldow has an average return of 0.3% when recommending The Meet Group Inc.

According to TipRanks.com, Moldow is ranked #4787 out of 4861 analysts.

The Meet Group Inc has an analyst consensus of Strong Buy, with a price target consensus of $5.58.

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