Analysts have been eager to weigh in on the Technology sector with new ratings on Orbcomm Inc (NASDAQ:ORBC) and Synacor Inc (NASDAQ:SYNC).
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 $10.35.
Walkley said:
“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 350-400K net subscriber additions in 2018. Further, we anticipate a growing subscriber base, completion of negative margin JB Hunt installations, and growing scale for newly acquired platforms such as inthinc and Blue Tree will contribute to expanding services gross margin throughout 2018 and beyond. These trends should contribute to strong adjusted EBITDA margins exiting 2018, positioning the company for strong long-term cash flow generation. We reiterate our BUY rating and $15 price target.”
According to TipRanks.com, Walkley is a top 100 analyst with an average return of 17.3% and a 62.5% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Adesto Technologies Corp, and Digi International Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Orbcomm Inc with a $14.33 average price target.
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Synacor Inc (SYNC)
In a report released yesterday, Austin Moldow from Canaccord Genuity maintained a Hold rating on Synacor Inc, with a price target of $3. The company’s shares opened today at $2.
According to TipRanks.com, Moldow is ranked #4772 out of 4839 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Synacor Inc with a $3.94 average price target.
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