In a report released yesterday, Nehal Chokshi from Maxim Group maintained a Buy rating on BIO-key International Inc (BKYI), with a price target of $3. The company’s shares closed yesterday at $1.31.
Chokshi commented:
“Customer calls indicate BIO-key is solving problems for end customers as implied by improving cash from operations (CFO). Problems being solved are edge cases, but still prevalent enough to support a $16M/year annual recurring revenue (ARR) software business by end of CY20, per our analysis. Converting model to non-GAAP basis shows software-like gross margins, and valuation methodology to a multiple basis yields a 12-month price target of $3, down from $4. Assuming coverage with a Buy rating.”
According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 7.6% and a 52.5% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
BIO-key International Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.
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The company has a one-year high of $3.64 and a one-year low of $0.75. Currently, BIO-key International Inc has an average volume of 17.34K.
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BIO-key International, Inc. is engaged in the development and market of fingerprint biometric technology and related security software solutions. It offers identification and verification solutions, such as personal inspection identification, passwords, tokens, smart cards, ID cards, PKI, credit card, passports, driver’s licenses, and OTP or other form of possession or knowledge-based credentialing. It also delivers identification solutions and information services to commercial, government, law enforcement and prison markets. The company was founded on January 7, 1993 and is headquartered in Wall, NJ.
