Resonant (RESN) Receives a Buy from Needham

In a report released today, Rajvindra Gill from Needham assigned a Buy rating to Resonant (RESN), with a price target of $3.50. The company’s shares closed last Wednesday at $2.32.

According to, Gill is a 4-star analyst with an average return of 3.6% and a 56.2% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.

Resonant has an analyst consensus of Moderate Buy, with a price target consensus of $3.75, representing a 57.6% upside. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $4.00 price target.

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Based on Resonant’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $604K and GAAP net loss of $7.22 million. In comparison, last year the company earned revenue of $63K and had a GAAP net loss of $7.5 million.

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Resonant, Inc. operates as a development-stage company, which engages in the creation of filter designs for radio frequency front-ends for the mobile device industry. Its products include the Infinite Synthesized Networks. Infinite Synthesized Networks designs complex filter products. The company was founded by Neal Fenzi and Robert B. Hammond in January 2012 and is headquartered in Goleta, CA.

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