In a report released today, Michael Walkley from Canaccord Genuity upgraded Calamp Crop (CAMP) to Buy, with a price target of $12.00. The company’s shares closed last Monday at $7.87, close to its 52-week low of $7.84.
According to TipRanks.com, Walkley is a top 100 analyst with an average return of 18.3% and a 62.9% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Sequans Communications S A, and Adesto Technologies.
The word on The Street in general, suggests a Hold analyst consensus rating for Calamp Crop with a $13.00 average price target.
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Based on Calamp Crop’s latest earnings release for the quarter ending November 30, the company reported a quarterly GAAP net loss of $7.42 million. In comparison, last year the company had a net profit of $11.26 million.
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CalAmp Corp. is a provider of Internet of Things (IoT) enablement solutions for a broad array of mobile and fixed applications serving multiple vertical markets worldwide. It offer solutions for mobile resource management and applications for the broader IoT market, enabling customers to optimize their operations by collecting, monitoring and efficiently reporting business-critical data and desired intelligence from high-value remote and often mobile assets. The company segments include Telematics System and Software and Subscription Services. CalAmp was founded in 1981 and is headquartered in Irvine, CA.
