Canaccord Genuity Sticks to Its Buy Rating for Inseego Corp (INSG)


In a report released today, Michael Walkley from Canaccord Genuity maintained a Buy rating on Inseego Corp (NASDAQ: INSG), with a price target of $5. The company’s shares closed on Friday at $4.22, close to its 52-week high of $4.43.

According to TipRanks.com, Walkley is a 5-star analyst with an average return of 16.7% and a 62.8% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Adesto Technologies Corp, and Digi International Inc.

Currently, the analyst consensus on Inseego Corp is a Moderate Buy with an average price target of $4.75, a 12.6% upside from current levels. In a report issued on September 11, Northland Securities also upgraded the stock to Buy with a $4.50 price target.

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Based on Inseego Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.66 million. In comparison, last year the company had a GAAP net loss of $12.02 million.

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Inseego Corp. povides telematics and analytics software and services. It offers a range of products through the Ctrack brand including fleet management, asset tracking and monitoring, stolen vehicle recovery, and usage-based insurance platforms. It also offers business connectivity solutions and device management services.

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