In a report released today, Michael Walkley from Canaccord Genuity maintained a Buy rating on Orbcomm (ORBC), with a price target of $9.00. The company’s shares closed last Wednesday at $6.00, close to its 52-week high of $6.59.
According to TipRanks.com, Walkley is a 5-star analyst with an average return of 21.6% and a 66.8% success rate. Walkley covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Sequans Communications S A, and Synchronoss Technologies.
Currently, the analyst consensus on Orbcomm is a Strong Buy with an average price target of $7.67, implying a 25.9% upside from current levels. In a report issued on November 23, Craig-Hallum also maintained a Buy rating on the stock with a $8.00 price target.
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Orbcomm’s market cap is currently $475.9M and has a P/E ratio of -20.40. The company has a Price to Book ratio of -47.01.
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ORBCOMM, Inc. engages in the provision of network connectivity, devices, device management, and web reporting applications. Its products are designed to track, monitor, control and enhance security for a variety of assets, such as heavy equipment; fixed asset monitoring; government and homeland security; and in industries for manufacturing, warehousing, and supply chain management. It operates through the following geographical segments: United States, South America, Japan, Europe, and Other. The company was founded on April 4, 2001 and is headquartered in Rochelle Park, NJ.
