In a report released today, James Goss from Barrington maintained a Buy rating on iPic Entertainment Inc (IPIC), with a price target of $13. The company’s shares closed yesterday at $6.20, close to its 52-week low of $5.40.
Goss commented:
“We reiterate our OUTPERFORM rating and $9 price target: IPIC’s IPO was on February 1, 2018. The pace of development combined with potential for some equity dilution as the company executes its development plan suggests this is a speculative story. Management is focused on executing on its plan. Our target assigns a 2.5x EV/Sales multiple. Company Description iPic Entertainment is a provider of entertainment services that focus on a combined experience of premium restaurant fare and theatrical exhibition in a combined facility. iPic is in an early growth phase with sixteen locations currently but aspirations to grow over the next decade. The company was founded by Hamid Hashemi in 2006.”
According to TipRanks.com, Goss is a 5-star analyst with an average return of 14.8% and a 71.6% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Sirius XM Holdings Inc, and Cinemark Holdings Inc.
Currently, the analyst consensus on iPic Entertainment Inc is a Moderate Buy with an average price target of $9.50, which is a 53.2% upside from current levels. In a report released today, Roth Capital also reiterated a Buy rating on the stock with a $10 price target.
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Based on iPic Entertainment Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.03 million. In comparison, last year the company had a GAAP net loss of $11.53 million.
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iPic Entertainment, Inc. provides visionary entertainment escapes, chef-driven culinary and mixology offerings that include movie theaters plus a bar and restaurant. The company was founded by Hamid Hashemi in 2010 and is headquartered in Boca Raton, FL.
