In a report released today, Scott Buck from H.C. Wainwright maintained a Buy rating on Boxlight (BOXL – Research Report), with a price target of $2.00.
Scott Buck has given his Buy rating due to a combination of factors including Boxlight Corporation’s recent financial performance and future prospects. In the first quarter of 2024, Boxlight reported revenues exceeding expectations, suggesting a conservative approach to their financial guidance and an improving selling environment. This, coupled with a forecast for increased market share in the second half of the year, indicates a potential for revenue growth. Boxlight’s management has also demonstrated cost discipline, with a successful reduction of fixed costs by $5 million over the past three months, which is expected to enhance profitability as revenue grows.
Additionally, Buck’s conviction in the stock is reinforced by Boxlight’s adjusted EBITDA, which outperformed estimates by showing a profit rather than the anticipated loss. Looking ahead, Buck has adjusted the revenue and adjusted EBITDA estimates upward for 2024 and introduced positive estimates for 2025. Despite the ongoing restructuring and uncertain macroeconomic environment, the company’s strong performance and management’s efficiency measures have led to the maintenance of a $2 price target. These factors collectively underpin Scott Buck’s recommendation to buy BOXL shares, with the expectation that investors will recognize the business’s operating leverage as it returns to more significant revenue growth.
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Boxlight (BOXL) Company Description:
Boxlight Corp. engages in the provision of interactive educational products. It designs, manufactures and distributes interactive projectors, flat panel displays, touch projectors, touchboards, and MimioTeach through the Boxlight Group and Genesis brands. The firm provides features and specifications like using pens or fingers as a mouse which allows teacher, moderator or student to write or draw images displayed on the surface. Its customers include schools including K-12 and higher education, enterprise for training purposes, government and healthcare. The company was founded in 1985 and is headquartered in Lawrenceville, GA.
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