In a report released today, Michael Latimore from Northland Securities initiated coverage with a Buy rating on Rekor Systems (REKR – Research Report) and a price target of $4.50. The company’s shares closed yesterday at $3.51.
According to TipRanks, Latimore is a 5-star analyst with an average return of 16.5% and a 50.50% success rate. Latimore covers the Technology sector, focusing on stocks such as SoundHound AI, Inc Class A, Cantaloupe, and Rekor Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rekor Systems with a $4.50 average price target.
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Based on Rekor Systems’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $9.12 million and a GAAP net loss of $10.57 million. In comparison, last year the company earned a revenue of $6.78 million and had a GAAP net loss of $48.03 million
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Rekor Systems (REKR) Company Description:
Rekor Systems, Inc. is a holding company, which engages in the provision of products and services to both government and private sector clients, with an emphasis on public safety, risk management, and workforce solutions. It also offers staffing services primarily in the aerospace and aviation industries. The company was founded by James K. McCarthy on February 6, 2017 and is headquartered in Columbia, MD.
Read More on REKR:
- Rekor Systems, Kistler partner on roadway intelligence
- Rekor Systems announces $2.1M contract expansion with TxDOT
- Rekor Systems completes acquisition of All Traffic Data Services
- Rekor Systems price target raised to $4.50 from $4 at B. Riley
- Rekor Systems announces sale of $15M of revenue sharing notes
