NXT-ID Inc Gets a Buy Rating from Maxim Group

In a report released today, Brian Kinstlinger from Maxim Group assigned a Buy rating to NXT-ID Inc (NASDAQ: NXTD), with a price target of $5. The company’s shares opened today at $1.40, close to its 52-week low of $1.21.

Kinstlinger said:

“NXTD posted $4.5 million in revenue for 3Q17, below our $6.7 million estimate as WorldVentures ordered fewer Flye cards due to significant inventory.”

According to TipRanks.com, Kinstlinger is a 3-star analyst with an average return of 2.7% and a 51.9% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Applied DNA Sciences, and Caci International.

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 $3.09 million and had a GAAP net loss of $2.45 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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