In a report released today, Ishfaque Faruk from Westpark Capital maintained a Buy rating on Digital Ally (NASDAQ: DGLY), with a price target of $5. The company’s shares closed on Friday at $2.50.
Faruk said:
“We lower our revenue estimates for F’18, but we would be buyers of DGLY stock at these levels based on potential near- term catalysts. Our PT of $5 remains unchanged.”
According to TipRanks.com, Faruk is ranked #4635 out of 4828 analysts.
Digital Ally has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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Based on Digital Ally’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.59 million. In comparison, last year the company had a GAAP net loss of $2.03 million.
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Digital Ally, Inc. engages in designing and manufacturing of digital technology. It produces digital video imaging and storage products for use in law enforcement, fire, emergency medical services, security, and commercial fleet industries. its products include in-car digital video or audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets, a system that provides law enforcement customers with audio or video surveillance from multiple vantage points and automatic activation of body-worn cameras and in-car video systems; a miniature digital video system designed to be worn on an individual’s body; and cloud storage solutions including cloud-based fleet management, and driver monitoring or training applications. The company was founded on December 13, 2000 and is headquartered in Lenexa, KS.
