In a report released today, Craig Ellis from B.Riley FBR maintained a Buy rating on Airgain Inc (NASDAQ: AIRG), with a price target of $17. The company’s shares opened today at $13.86, close to its 52-week high of $14.17.
Ellis said:
“Airgain (AIRG) reported Thursday, 11/1 AMC with results and guidance which compared well overall to Street estimates, with strong growth and a robust return to quarterly profitability aided by refreshing expense control. We believe strong execution under interim CEO Simms and CFO Doradla is at play, auguring well for an interesting CY19 and longer term growth prospects of +20% Y/Y . For example, revenue momentum seemed strong across Connected Home’s DOCSIS 3.1 802.11ac carrier programs, Auto’s fleet management business, and Enterprise Connectivity opportunities. A blemish was gross margins, though we believe in-progress COGS enhancement initiatives can fuel expansion in 2019.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 25.3% and a 64.3% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Rudolph Technologies.
Airgain Inc has an analyst consensus of Moderate Buy, with a price target consensus of $17.
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The company has a one-year high of $14.17 and a one-year low of $7.31. Currently, Airgain Inc has an average volume of 54.69K.
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Airgain, Inc. provides embedded antenna products, integration support and test services. The firm works in partnership with the entire ecosystem, including carriers, chipset suppliers, OEMs, and ODMs. Its products include embedded, external and carrier-class antennas. The firm offers custom antenna design and performance validation services.
