In a report released yesterday, Jack Vander Aarde from Maxim Group reiterated a Buy rating on VerifyMe (VRME – Research Report), with a price target of $5.00. The company’s shares closed yesterday at $1.57.
According to TipRanks, Vander Aarde is a 5-star analyst with an average return of 26.7% and a 35.59% success rate. Vander Aarde covers the Technology sector, focusing on stocks such as VerifyMe, WiSA Technologies, Inc., and Avid Technology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for VerifyMe with a $3.50 average price target, which is a 122.93% upside from current levels. In a report released yesterday, Barrington also maintained a Buy rating on the stock with a $2.00 price target.
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Based on VerifyMe’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.22 million and a GAAP net loss of $557 thousand. In comparison, last year the company earned a revenue of $300 thousand and had a net profit of $7.19 million
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VerifyMe, Inc. engages in the provision of digital and physical solutions. It is able to deliver security solutions for identification and authentication of people, products and packaging in a variety of applications in the security field for physical transactions and owns digital patents which are in the same field. The company was founded by Norman A. Gardner on November 10, 1999 and is headquartered in Rochester, NY.
Read More on VRME:
- VerifyMe reports Q4 revenue $9.7M vs. $300,000 last year
- VerifyMe Reports Positive Net Income in Fourth Quarter 2022 Financial Results
- VerifyMe (VRME) Q4 Earnings Cheat Sheet
- VerifyMe CEO Patrick White departs, Executive Chairman appointed Interim CEO
- VerifyMe Acquires Assets of Digital Identity Brand Protection Company, Trust Codes Limited
