There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Cyren (CYRN), Ooma (OOMA) and KVH Industries (KVHI) with bullish sentiments.
Cyren (CYRN)
In a report released today, Dan Drawbaugh from B.Riley FBR reiterated a Buy rating on Cyren, with a price target of $3. The company’s shares closed last Monday at $1.38, close to its 52-week low of $1.36.
Drawbaugh said:
“Cloud-delivered cybersecurity solutions provider Cyren reported 2Q19 results on August 14 before market open. The quarter was, on the whole, about in line with our expectations: Revenue of $9.7M met our estimate and marked a quarterly record for CYRN, non-GAAP operating loss of ($3.8M) was a touch better than we expected, and non-GAAP loss per share of $(0.08) came in just below our $(0.07) due to higher financial expense. However, we are tempering our growth outlook for the company in the second half of 2019 in order to reflect a shift in product strategy within the enterprise business and gradual expansion of the threat intelligence business.”
According to TipRanks.com, Drawbaugh is ranked #4300 out of 5232 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cyren with a $3 average price target.
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Ooma (OOMA)
In a report released today, Josh Nichols from B.Riley FBR reiterated a Buy rating on Ooma, with a price target of $20.50. The company’s shares closed last Monday at $11.60.
Nichols noted:
“Buy-rated Ooma, Inc. (OOMA—$20.50 PT), our Alpha Generator pick, reports F2Q20 (Jul) results, after the close, on Tuesday, 8/27, call at 5:00pm ET (Dial-in: We model revenue, EBITDA, and pro forma EPS of $35.7M, $(1.5M), and $(0.06) relative to consensus of $35.6M, $(1.0M), and $(0.06) and management’s revenue guidance of $35.5M-$36.0M. Core subs recently passed the 1M milestone and higher-ARPU business subscribers are growing quickly with Ooma Business (Office and Enterprise) subscription revenue increasing 45% of revenue). Ooma’s platform has been expanding on multiple fronts (e.g. enhanced Ooma Office features and new security offerings).”
According to TipRanks.com, Nichols is a 5-star analyst with an average return of 16.0% and a 43.1% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Horizon Global, and OSI Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ooma with a $19.25 average price target.
KVH Industries (KVHI)
B.Riley FBR analyst Christopher Van Horn reiterated a Buy rating on KVH Industries today and set a price target of $15. The company’s shares closed last Monday at $8.84, close to its 52-week low of $8.74.
Van Horn said:
“We continue to be buyers of KVH Industries (KVHI-$15 PT) as the company continues to make the shift from product sales to service sales, which we think will ultimately transform the company into a higher-margin, higher-growth company. Despite the lower-than-expected 2Q19 and the lowering of 2019 guidance (mainly due to divestitures and increased investments in growth), our Buy thesis on the stock remains intact. Strategically, the company now has roughly $65M in cash and signficantly lower debt. We think this gives them flexibility for capital deployment including acquisitions, further debt paydown, investing in new tech, and possible buybacks. We think that the most significant opportunity for the company is in autonomous vehicles. The company is now field testing its FOG-based 1725 IMU on autonomous vehicles.”
According to TipRanks.com, Horn is a 2-star analyst with an average return of -0.1% and a 44.2% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Crawford United Corporation Class A, Motorcar Parts Of America, and Standard Motor Products.
KVH Industries has an analyst consensus of Strong Buy, with a price target consensus of $15.33, representing a 74.3% upside. In a report issued on August 4, Chardan Capital also reiterated a Buy rating on the stock with a $20 price target.
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