Maxim Group Thinks NXT-ID Inc’s Stock is Going to Recover


Maxim Group analyst Michael Diana maintained a Buy rating on NXT-ID Inc (NASDAQ: NXTD) today and set a price target of $4. The company’s shares closed yesterday at $1.70, close to its 52-week low of $1.01.

Diana wrote:

“NXTD’s 2Q18 results reflected strong progress in both payments (FitPay) and healthcare (LogicMark), in our view, with higher sequential-quarter revenues, lower sequential-quarter operating costs, and a gross profit margin of 68%. We expect continued progress, including multiple new products in 2019. Our 2019 estimates already reflect this progress, so we are leaving them basically unchanged. We are lowering our 2018 estimates, as we now expect more contribution from new products in 2019 and less in 2018. We are maintaining our price target at $4. Our price target represents, relative to other payments companies, a discount to multiples of 2019 EV/revenue and a premium to multiples of 2019 EV/Adjusted EBITDA (reflecting NXTD’s early stage of development).”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 7.4% and a 62.0% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NXT-ID Inc with a $4 average price target.

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Based on NXT-ID Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $998.8K. In comparison, last year the company had a GAAP net loss of $1.2 million.

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Nxt-ID, Inc. engages in the development of proprietary technology products and solutions. It focuses on security, healthcare, financial technology, and the Internet of Things markets.

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