In a report released today, Josh Nichols from B.Riley FBR maintained a Buy rating on ID Systems (NASDAQ: IDSY), with a price target of $8.50. The company’s shares opened today at $6.19.
Nichols said:
“Buy-rated I.D. Systems (IDSY , $8.50 PT) reports 2Q results, after the close, on Wednesday, 8/8, call at 4:45PM ET (Dial-in: We model $14.7M in revenue and $0.03 pro forma EPS, slightly ahead of $14.6M and $0.02 consensus. Avis’ (CAR) deployment of 50k in-vehicle wireless rental fleet units commenced in February, and we model 20k units of Platform (UTP) deployed in 2Q following the 13k units shipped in 1Q, demonstrated the company’s ability to quickly certify new makes/models and scale production.”
According to TipRanks.com, Nichols is a 5-star analyst with an average return of 24.7% and a 48.4% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ID Systems with a $8.50 average price target.
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The company has a one-year high of $8.05 and a one-year low of $5.37. Currently, ID Systems has an average volume of 27.34K.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IDSY in relation to earlier this year.
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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.
