Maxim Group Sticks to Its Buy Rating for Rignet (RNET)

In a report released today, Allen Klee from Maxim Group maintained a Buy rating on Rignet (RNETResearch Report), with a price target of $24. The company’s shares closed yesterday at $15.06.

Klee commented:

“RNET posted 4Q18 revenue of $60.2M, +6% y/y, missing our estimate and consensus of $62.5M. Adjusted EBITDA of $10.5M, up 23% y/y, topped our estimate of $5.1M on better cost control.”

According to TipRanks.com, Klee ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.6% and a 39.4% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and Atlantic Tele-Network.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rignet with a $24 average price target.

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The company has a one-year high of $24.05 and a one-year low of $10.03. Currently, Rignet has an average volume of 37.1K.

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RigNet, Inc. is a technology company, which engages in the provision of customized communications services, applications, and cybersecurity solutions. It operates through the following segments: Managed Services; Applications and Internet-of-Things; and Systems Integration.

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