In a report released today, Mike Crawford from B.Riley FBR maintained a Buy rating on Widepoint Corp (WYY), with a price target of $1. The company’s shares closed on Friday at $0.58, close to its 52-week high of $0.60.
Crawford noted:
“Buy-rated WidePoint Corporation (WYY , $1.00 PT) reports 1Q19 results after market close on 5/14, with call at 4:30PM ET (dial in 877.407.9210). We model $21.5M revenue, up 7% Y/ Y organically, $369k EPS, vs. a consensus $22.5M/$0.00, and believe a revitalized board and management have done a good job stabilizing the ship and setting course on a thoughtful, if long and slow, turnaround. In this regard, we expect 1Q19 to show a seventh sequential period of positive EBITDA for WYY , as the company further distances itself from a 14-quarter purgatory featuring just one such positive EBITDA quarter in the entire prior period.”
According to TipRanks.com, Crawford is a 5-star analyst with an average return of 8.0% and a 57.3% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Silicon Motion.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Widepoint Corp with a $1 average price target.
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Based on Widepoint Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $412.1K. In comparison, last year the company had a GAAP net loss of $462.2K.
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WidePoint Corp. provides Trusted Mobility Management (TM2) that consists of federally certified communications management, identity management, and bill presentation and analytics solutions. It also provides professional services solution that is centered on the use of proprietary advanced and federally certified software solutions and supported by in-house subject matter experts. The company was founded on May 30, 1997 and is headquartered in Fairfax, VA.
