In a report released today, Kara Anderson from B.Riley FBR maintained a Buy rating on PFSweb (NASDAQ: PFSW), with a price target of $14. The company’s shares opened today at $9.57.
Anderson noted:
“Buy-rated PFSweb, Inc. (PFSW, $14 PT) reported adjusted EBITDA upside as sharp focus on execution following the company’s strategic shift to pursue higher profit engagements and the segmentation of its two business units is proving to work. Service fee equivalent (SFE) revenue of $53.6 million and adjusted EBITDA of $5.3 million were largely favorable versus consensus $54.2 million and $3.8 million, respectively. 2Q felt similar to 1Q with revenue growth negatively impacted by PFS’s pivot (as expected), but consequently, adjusted EBITDA improving 22% 2Q record. Although professional services projects were delayed some, we expect this to be overlooked by strong operations volume and projects and execution that are driving material margin improvement.”
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 13.4% and a 58.3% success rate. Anderson covers the Services sector, focusing on stocks such as Weight Watchers International, Spark Networks Plc, and Nutrisystem Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for PFSweb with a $12.67 average price target.
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Based on PFSweb’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $626K. In comparison, last year the company had a GAAP net loss of $2.6 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PFSW in relation to earlier this year. Most recently, in June 2018, James F. Reilly, a Director at PFSW bought 4,255 shares for a total of $22,466.
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PFSweb, Inc. is global commerce service provider, which engages in delivering integrated technologies, professional services and a worldwide network of systems and logistics to deliver global commerce solutions. It operates through PFSweb, and Business and Retail Connect segments.
