In a report released today, Allen Klee from Maxim Group maintained a Buy rating on Rignet (NASDAQ: RNET), with a price target of $19. The company’s shares closed yesterday at $12.80.
Klee noted:
“RNET posted 2Q18 revenue of $60.0 million, ahead of our estimate of $54.6 million and consensus of $55.3 million. Adjusted EBITDA of $8.1 million, up 34% y/y, also beat our estimate of $7.6 million and consensus of $7.5 million.”
According to TipRanks.com, Klee is a 2-star analyst with an average return of 3.1% and a 59.1% success rate. Klee covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Net 1 Ueps, and Stampscom.
Rignet has an analyst consensus of Moderate Buy, with a price target consensus of $19.
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The company has a one-year high of $19.10 and a one-year low of $10.03. Currently, Rignet has an average volume of 54.15K.
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RigNet, Inc. is a technology company, which engages in the provision of customized communications services, applications, and cybersecurity solutions. It operates through the following segments: Managed Services; Applications and Internet-of-Things; and Systems Integration.
