Global critical communications systems and solutions provider Genasys Inc. (GNSS) has acquired Zonehaven. The acquisition closed on June 7.
San Francisco-based Zonehaven provides software-as-a-service (SaaS) solutions during emergency evacuations. It offers planning, training, and resources to first responders, public safety agencies, and communities.
Genasys CEO Richard S. Danforth said, “Increasing wildfire, flooding, severe weather, active shooter, HAZMAT, and other crisis events require proven solutions to help quickly move people away from danger.” (See Genasys stock analysis on TipRanks)
Danforth added, “By empowering agencies and communities with essential tools to safely execute timely emergency evacuations and orderly repopulations, Zonehaven’s solutions help save lives.”
This strategic move bolsters Genasys’ competencies in providing local, regional, and national management of emergency and warnings SaaS solutions, while also speeding up recurring revenue growth.
Last month, Northland Securities analyst Michael Latimore reiterated a Buy rating on the stock and a $9 price target (69.5% upside potential).
Commenting on Genasys’ Q2 results, Latimore said, “Reported results were strong, and bookings commentary for 2H very positive…Investments in sales headcount and software R&D further highlight opportunities present for GNSS.”
Based on 3 unanimous Buys, consensus among analysts is a Strong Buy. The GNSS average analyst price target of $9 implies 69.5% upside potential. That’s after shares have fallen 16.5% so far this year.
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