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B.Riley FBR Sticks to Their Buy Rating for ID Systems (IDSY)


B.Riley FBR analyst Josh Nichols maintained a Buy rating on ID Systems (IDSY) today and set a price target of $8.50. The company’s shares opened today at $6.10.

Nichols commented:

“Buy-rated I.D. Systems (IDSY , $8.50 PT) reported 3Q results on Thursday, 11/8. Revenue and EBITDA of $13.4M/$0.1M beat our and consensus $12.1M/$12.3M and $0.0M/$(0.1M). The top-line beat was driven by Avis (CAR) and strong Industrial Truck revenue supported by a product refresh at of revenue contribution from Keytroller (acquired on 8/1/17). Pro forma EPS of $0.01 also outpaced consensus of $0.00 but edged below our $0.02 projection due to increased R&D investment for development program work related to Avis (exclusivity lapsed in July). IDSY delivered the remaining 9k Unified Telematics Platform (UTP) devices to the company is in the process of certifying 2019 model-year vehicles for in-fleeting.”

According to TipRanks.com, Nichols is a 4-star analyst with an average return of 14.7% and a 40.0% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.

ID Systems has an analyst consensus of Strong Buy, with a price target consensus of $9.03, implying a 48.0% upside from current levels. In a report released today, Ladenburg also reiterated a Buy rating on the stock with a $10 price target.

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Based on ID Systems’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.12 million. In comparison, last year the company had a GAAP net loss of $586K.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.

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I.D. Systems, Inc. engages in the development, marketing, and sale of wireless machine to machine solutions for managing and securing enterprise assets. Its business activities focus on the following primary applications: industrial fleet management, transportation asset management, and rental fleet management.