In a report released today, Greg Palm from Craig-Hallum maintained a Buy rating on Faro Technologies (FARO – Research Report). The company’s shares closed last Friday at $17.96.
According to TipRanks, Palm is a 5-star analyst with an average return of 13.4% and a 52.91% success rate. Palm covers the Industrials sector, focusing on stocks such as Ranpak Holdings, Skyline Champion, and Cavco Industries.
Faro Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $20.50.
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Based on Faro Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $88.21 million and a GAAP net loss of $28.25 million. In comparison, last year the company earned a revenue of $79.92 million and had a GAAP net loss of $8.57 million
Based on the recent corporate insider activity of 24 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.
Read More on FARO:
- Qualcomm downgraded, Wingstop upgraded: Wall Street’s top analyst calls
- Craig-Hallum upgrades Faro Technologies to Buy, believes stock can double
- Faro Technologies upgraded to Buy from Hold at Craig-Hallum
- Faro Technologies sees Q3 non-GAAP EPS (35c)-(10c), consensus (24c)
- Faro Technologies reports Q2 non-GAAP EPS (14c), consensus (40c)
