Canaccord Genuity Believes Sierra Wireless (NASDAQ: SWIR) Won’t Stop Here

Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Sierra Wireless (SWIRResearch Report) yesterday and set a price target of $24.00. The company’s shares closed last Thursday at $18.40, close to its 52-week high of $18.78.

According to, Walkley is a top 100 analyst with an average return of 30.2% and a 72.6% success rate. Walkley covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Sequans Communications S A, and Synchronoss Technologies.

Sierra Wireless has an analyst consensus of Moderate Buy, with a price target consensus of $18.70, representing a 3.8% upside. In a report issued on January 14, B.Riley Financial also initiated coverage with a Buy rating on the stock with a $23.50 price target.

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Sierra Wireless’ market cap is currently $670.1M and has a P/E ratio of -11.00. The company has a Price to Book ratio of 6.56.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SWIR in relation to earlier this year.

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Sierra Wireless, Inc. engages in the provision of device-to-cloud and networking solutions. It operates through the following segments: Original Equipment Manufacturers (OEM) Solutions; Enterprise Solutions; and Internet-of-Things Services (IoT). The OEM Solutions segment includes standards-based wireless technologies and support open source initiatives that enable OEMs and system integrators to get IoT solutions to market faster. The Enterprise Solutions segment focuses in networking solutions comprised of cellular gateways and routers that are complemented by cloud-based services and on-premise software for secure device and network management. The Internet-of-Things Services segment involves in digital transformation of enterprises through IoT cloud and connectivity services. The company was founded on May 31, 1993 and is headquartered in Richmond, Canada.