In a report released yesterday, Michael Walkley from Canaccord Genuity maintained a Buy rating on Orbcomm (ORBC), with a price target of $10.00. The company’s shares closed last Thursday at $6.30, close to its 52-week high of $6.59.
According to TipRanks.com, Walkley is a top 100 analyst with an average return of 22.2% and a 68.0% success rate. Walkley covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Sequans Communications S A, and Synchronoss Technologies.
Orbcomm has an analyst consensus of Strong Buy, with a price target consensus of $8.00.
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Orbcomm’s market cap is currently $496.2M and has a P/E ratio of -22.10. The company has a Price to Book ratio of -50.79.
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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.
