In a report released today, Scott Berg from Needham assigned a Buy rating to GTY Technology Holdings (GTYH), with a price target of $10.00. The company’s shares closed last Tuesday at $8.17, close to its 52-week high of $8.28.
According to TipRanks.com, Berg is a top 25 analyst with an average return of 36.3% and a 77.0% success rate. Berg covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Cornerstone Ondemand, and Tyler Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for GTY Technology Holdings with a $8.00 average price target.
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Based on GTY Technology Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $12.59 million and GAAP net loss of $8.03 million. In comparison, last year the company earned revenue of $8.75 million and had a GAAP net loss of $8.7 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GTYH in relation to earlier this year.
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GTY Technology Holdings, Inc. is blank check company. The company currently does not have any operations. GTY Technology Holdings was founded on August 11, 2016 and is headquartered in Las Vegas, NV.
