Intellicheck Mobilisia Receives a Buy from Oppenheimer

Oppenheimer analyst Shaul Eyal maintained a Buy rating on Intellicheck Mobilisia (NYSE: IDN) today and set a price target of $3. The company’s shares closed yesterday at $1.90.

Eyal commented:

“IDN reported 1Q18 results below our estimates with revenues of $1,062K, +49.0% YoY, vs. our estimate of $1,155K, LPS of $0.07 in line with our estimate. SaaS revenues were $595K (+5% QoQ), indicating the momentum of IDN’s SaaS growth is continuing to be impacted by execution concerns; nonetheless, we believe IDN’s sales force reorganization initiatives remain in the early innings. Non-SaaS sales of $467K decreased 19% YoY but increased 17% QoQ. Strong gross margins of 90.5% (vs. 80.1% in 4Q16) were attributable to the larger revenue contribution from SaaS products. We believe IDN’s pipeline momentum is unchanged. We are lowering our FY18 and FY19 estimates and reducing our PT to $3.00 from $3.50. Maintain Outperform.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 14.2% and a 65.7% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.

Intellicheck Mobilisia has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.

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Based on Intellicheck Mobilisia’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.91 million. In comparison, last year the company had a GAAP net loss of $936.8K.

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Intellicheck, Inc. engages in developing, integrating, and marketing identity authentication systems for various applications including mobile, handheld and integrated systems for the government, military and commercial markets.