Maxim Group analyst Allen Klee maintained a Buy rating on Rignet (RNET) today and set a price target of $24. The company’s shares closed yesterday at $14.04.
Klee observed:
“We expect 4Q18 revenue of $62.5M and adjusted EBITDA of $5.1M, including additional costs associated with growth investing.”
According to TipRanks.com, Klee has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.3% and a 33.8% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and Atlantic Tele-Network.
Rignet has an analyst consensus of Hold.
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Based on Rignet’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.85 million. In comparison, last year the company had a GAAP net loss of $5.67 million.
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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.
