In a report released today, Mike Crawford from B.Riley FBR maintained a Buy rating on Finjan Holdings (NASDAQ: FNJN), with a price target of $5. The company’s shares closed yesterday at $3.19.
Crawford said:
“Buy-rated Finjan (FNJN) is heading into its final week of 2Q18 with one signed license in hand and an air of confidence as expressed in public presentations including at our 19th Annual B. Riley FBR Investor Conference held on 5/24 as well as at a subsequent LD Micro conference held on 6/4. Given a hard-to-predict FNJN financial reporting schedule, we are issuing our Earnings Preview at this time and lift our 2Q revenue projection from $50k to $3.9M, reflecting the company’s latest conquest, as discussed in our 4/9/18 Flash, “Finjan Forges $3.9M Cross- license We also lift expected revenue for the remainder of $15M, albeit with more muted moves in expected pro forma EPS and year- end cash, from $1.04 and $63.7M to $1.11 and $64.3M, respectively.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 8.8% and a 57.4% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as CPI Aerostructures, Kratos Defense, and Ducommun Inc.
Finjan Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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The company has a one-year high of $4.06 and a one-year low of $1.66. Currently, Finjan Holdings has an average volume of 350.8K.
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Finjan Holdings, Inc. is a cybersecurity company, which engages in the development and provision of cyber security technology and services. It operates through the following business lines: Intellectual Property Licensing and Enforcement; Mobile Security Application Development; Advisory Services; and Investing in Cybersecurity Technologies and Intellectual Property. The company was founded in January 2006 and is headquartered in East Palo Alto, CA.
