In a report released today, Mike Crawford from B.Riley FBR maintained a Buy rating on Widepoint Corp (WYY), with a price target of $1. The company’s shares closed last Monday at $0.38, close to its 52-week low of $0.35.
Crawford commented:
“Buy-rated WidePoint Corporation (WYY , $1.00 PT) reported 2Q19 results, generally in line, with $22.1M revenue, up 26% Y/Y organically off an easy compare, $619K EPS, vs. our/consensus’ $22.3M/$21.1M revenue, and $0.00 EPS. WYY also rewarded our confidence and delivered its eighth sequential period of positive EBITDA in 2Q19, $619K vs. $632K modeled, and FCF was a bit better than expected, at $825K vs. $214K, as WYY took in working capital. That said, the company still isn’t exactly off to the races, and we continue to model $93M revenue and $3.6M EBITDA for the year—above an unchanged $2.75M-$3.5M guidance range but still accompanied by just $2.3M FCF (raised from $1.6M) modeled for the year.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 4.5% and a 50.0% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Ducommun Inc.
Widepoint Corp has an analyst consensus of Moderate Buy, with a price target consensus of $1.
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Based on Widepoint Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $384.1K. In comparison, last year the company had a GAAP net loss of $472.2K.
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WidePoint Corp. provides Trusted Mobility Management (TM2) that consists of federally certified communications management, identity management, and bill presentation and analytics solutions. It also provides professional services solution that is centered on the use of proprietary advanced and federally certified software solutions and supported by in-house subject matter experts. The company was founded on May 30, 1997 and is headquartered in Fairfax, VA.
