CalAmp Corp. (NASDAQ:CAMP), a leading provider of wireless products, services and solutions, today announced that Thingtech has selected the CalAmp Connect™ platform and fleet tracking devices to power their new Fleet Management solution. Thingtech, an innovative provider of cloud-based fleet and asset management software, is now able to offer its customers an all-in-one solution to track and optimize the performance of mission-critical mobile assets and workforces.
CalAmp Connect is an extensive cloud-based service enablement platform that simplifies the commercial deployment and management of complex, scalable M2M/IoT solutions. The platform enables tight integration with existing enterprise systems and value-added applications to transform data from remote and mobile assets into actionable business information.
“There are many fleet telematics applications offering basic track and trace functionality with poor access to critical data and no integration with other enterprise systems. We set out to change this with a robust software solution featuring Enterprise Asset Management, Schedule and Route Optimization and Mobile Tools to unlock the power of telematics and location intelligence for our customers,” said Brian Corcoran, President at Thingtech. “CalAmp’s Connect platform and industry-leading fleet device portfolio enabled us to bring our integrated telematics solution to market much quicker than anticipated. By abstracting complex device-to cloud services, Connect has simplified our offering through a comprehensive set of APIs that seamlessly link our application to our managed assets. CalAmp’s powerful combination of hardware and software services is very unique in the industry and was a key factor in our selection.”
“With a single point of integration, the CalAmp Connect platform encompasses a broad set of device communications, network connectivity, data services, notification services and advanced APIs for seamless integration into any enterprise business solution,” said Mike Zachan, Senior Vice President and General Manager of CalAmp’s Wireless Networks business. “Connect has a clear differentiation as a proven scalable IOT enablement platform with core efficiencies in device and transaction management to support thousands of devices in a reliable and secure manner, while still providing the agility for a quick time to market solution and a demonstrable ROI.”(Original Source)
Shares of Calamp closed last Friday at $15.88. CAMP has a 1-year high of $21.82 and a 1-year low of $14.01. The stock’s 50-day moving average is $16.67 and its 200-day moving average is $18.23.
On the ratings front, Calamp has been the subject of a number of recent research reports. In a report issued on August 13, Canaccord Genuity analyst Michael Walkley maintained a Buy rating on CAMP, with a price target of $26, which implies an upside of 63.7% from current levels. Separately, on July 1, Northland Securities’ Michael Latimore maintained a Buy rating on the stock and has a price target of $28.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Walkley and Michael Latimore have a total average return of 16.8% and -5.7% respectively. Walkley has a success rate of 57.5% and is ranked #22 out of 3747 analysts, while Latimore has a success rate of 40.9% and is ranked #3551.
CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.