Maxim Group Sticks to Its Buy Rating for NXT-ID Inc

Maxim Group analyst Brian Kinstlinger maintained a Buy rating on NXT-ID Inc (NASDAQ: NXTD) today and set a price target of $5. The company’s shares opened today at $2.14.

Kinstlinger observed:

“When establishing new payment technology, companies need bank issuers and credit card companies to approve the technology, before consumers can download credit cards to be used.”

According to, Kinstlinger is a 3-star analyst with an average return of 1.1% and a 54.4% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Applied DNA Sciences, Caci International, and Tyler Technologies.

NXT-ID Inc has an analyst consensus of Moderate Buy, with a price target consensus of $5.

Based on NXT-ID Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $7.66 million and GAAP net loss of $1.2 million. In comparison, last year the company earned revenue of $38.49K and had a GAAP net loss of $2.51 million.

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Nxt-ID, Inc. is a technology company, which provides security solutions to mobile devices. Its MobileBio biometric solutions mitigate consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company’s product, Wocket, is a next generation smart wallet designed to replace all the cards.

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