In a report released yesterday, Michael Walkley from Canaccord Genuity maintained a Buy rating on Inseego (INSG), with a price target of $13.00. The company’s shares closed last Thursday at $9.40.
According to TipRanks.com, Walkley is a 5-star analyst with an average return of 17.0% and a 63.2% 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 Inseego is a Moderate Buy with an average price target of $13.33.
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Based on Inseego’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $80.69 million and GAAP net loss of $74.83 million. In comparison, last year the company earned revenue of $55.89 million and had a GAAP net loss of $10.78 million.
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Inseego Corp.is an industry pioneer in 5G and intelligent IoT device-to-cloud solutions. The company serves service providers, distributors, consumers, and the enterprise. Its 4G LTE Advanced and 5G NR hardware products are powered by MiFi technology and include mobile hotspots, industrial gateways and routers, home and enterprise routers, industrial USB modems, and telematics and mobile tracking hardware devices supported by applications software and cloud services. Its SaaS platforms include Ctrack, an asset tracking and management solution that delivers business intelligence for fleets used in various verticals including aviation, construction, government, and transport; and Device Management Solutions, a hosted subscription management platform that helps organizations to manage the selection, deployment, and spend of their wireless assets. The company was founded on April 26, 1996 and is headquartered in San Diego, CA.