B.Riley FBR analyst Mike Crawford maintained a Buy rating on Widepoint Corp (WYY) today and set a price target of $1. The company’s shares closed yesterday at $0.41, close to its 52-week low of $0.38.
Crawford commented:
“Buy-rated WidePoint Corporation (WYY , $1.00 PT) reports 2Q19 results after market close on 8/14, with call at 4:30PM ET (dial in 844.369.8770). We model $22.3M revenue, up 27% Y/Y organically off of an easy compare, $632k EPS, vs. a consensus $21.1M/ $0.00. We are highly confident that WYY will deliver its 8th sequential period of positive EBITDA in 2Q19, though the company isn’t exactly off to the races yet. In this regard, we model $3.6M EBITDA for $2.75M-$3.5M guidance range but still accompanied by just $1.6M FCF modeled for the year. Accordingly, while we do see WYY attaining ltm FCF positive by year end, this cash flow alone is not enough to support even the current $30M EV, let alone the $80M EV associated with our $1/sh PT.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 5.6% and a 52.6% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Ducommun Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Widepoint Corp with a $1 average price target.
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The company has a one-year high of $0.63 and a one-year low of $0.38. Currently, Widepoint Corp has an average volume of 195.4K.
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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.
