In a report released today, Anthony Vendetti from Maxim Group reiterated a Buy rating on Reed’s Inc (REED), with a price target of $4. The company’s shares closed yesterday at $2.83.
Vendetti said:
“4Q18 results were relatively inline, and the company reiterated its 2019 revenue and gross margin guidance. We expect significant revenue growth acceleration and gross margin expansion in 2019 as the company continues to refresh its brands and capture cost efficiencies. We are increasing our 2020 revenue estimate, but widening 2019 and 2020 GAAP loss per share estimates due to higher selling and marketing expense.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 6.1% and a 52.6% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Ra Medical Systems Inc.
Reed’s Inc has an analyst consensus of Moderate Buy, with a price target consensus of $4.65.
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Based on Reed’s Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.67 million. In comparison, last year the company had a GAAP net loss of $10.92 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is neutral on the stock.
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Reed’s, Inc. engages in the provision of carbonated and non-carbonated beverages. Its product lines include Reed’s Ginger Brews, Virgil’s Root Beer, and Flying Culdron Butterscotch Beer. The company was founded by Christopher J. Reed in June 1987 and is headquartered in Los Angeles, CA.
