B.Riley FBR analyst Mike Crawford maintained a Buy rating on Widepoint Corp (NYSE: WYY) today and set a price target of $1. The company’s shares opened today at $0.52.
Crawford observed:
“Buy-rated WidePoint Corporation (WYY , $1.00 PT) reports 2Q18 results after the close on and will hold its call at 4:30 p.m. ET; dial in: We comprise sole consensus and model $17.9M revenue, $131k EBITDA, and $(0.01)/$(0.00) GAAP and pro forma EPS, with 2Q representing an expected fourth sequential period of positive EBITDA, a trend we expect to see continued unabated through FY18, a year where we model $79M revenue, $1.5M $(0.01) EPS. Baby steps perhaps, but WYY at $0.52/share is trading with an EV of just $36M, less than 0.5x total revenue, and more importantly, just over 1x the $34M of higher-margin, recurring managed services revenues we model for FY18.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 9.2% and a 58.9% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Silicon Motion.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Widepoint Corp with a $1 average price target.
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The company has a one-year high of $0.73 and a one-year low of $0.42. Currently, Widepoint Corp has an average volume of 107.8K.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WYY in relation to earlier this year.
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WidePoint Corp. provides Trusted Mobility Management (TM2) that consists of federally certified communications management, identity management, and bill presentation and analytics solutions. Its services include Telecom Life Cycle Management, Telecom Analysis, and Mobile and Identity Management.
