Craig-Hallum analyst Greg Palm maintained a Buy rating on Faro Technologies (FARO – Research Report) today. The company’s shares closed yesterday at $10.32.
Palm covers the Industrial Goods sector, focusing on stocks such as Markforged Holding, Symbotic, and Bluelinx Holdings. According to TipRanks, Palm has an average return of 6.2% and a 47.78% success rate on recommended stocks.
Faro Technologies has an analyst consensus of Strong Buy, with a price target consensus of $32.33, representing a 213.28% upside. In a report released on May 8, Needham also maintained a Buy rating on the stock with a $20.00 price target.
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Based on Faro Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $84.97 million and a GAAP net loss of $21.16 million. In comparison, last year the company earned a revenue of $76.66 million and had a GAAP net loss of $9.69 million
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FARO in relation to earlier this year.
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FARO Technologies, Inc. engages in the design, development, manufacture, marketing and support of three-dimensional (3D) measurement, imaging, and realization systems. It operates through the following segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The 3D Manufacturing segment provides solutions for manual & automated measurement and inspection in an industrial or manufacturing environment. The Construction BIM segment offers solutions for as-built data capturing and 3D visualization in building information modeling and construction information management applications. The Emerging Verticals segment includes product design, public safety forensics, and 3D solutions. The company was founded by Gregory A. Fraser and Simon Raab on February 21, 1981 and is headquartered in Lake Mary, FL.
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