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 opened today at $3.28.
Crawford said:
“Buy-rated Finjan (FNJN, $5 PT) is due to file its 10-Q and release 3Q18 results within the next two weeks. Given no known licenses or settlements inked in the period, we reduce our placeholder revenue projection from $2M to $0 in 3Q and shift this amount into 4Q, which we lift from $15M to $17M. Our annual pro forma EPS projection shifts from $1.46 to $1.45, and we continue to model FNJN exiting 2018 with $77M cash, $2.58 per share. We also introduce 2019 estimates, including revenue and pro forma EPS of $60M and $0.86, each about FY17 levels but below a $75M/$1.09 one-analyst consensus. In recent months, FNJN has instituted new IP complaints against Rapid7 (RPD) and Fortinet (FTNT), bringing the active litigation calendar to ten separate cases.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 5.8% and a 54.4% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as CPI Aerostructures, Kratos Defense, and Silicon Motion.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Finjan Holdings with a $5 average price target.
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The company has a one-year high of $5.54 and a one-year low of $1.66. Currently, Finjan Holdings has an average volume of 406.9K.
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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.
