Needham analyst Chris Pierce has reiterated their neutral stance on BEEM stock, giving a Hold rating on August 13.
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Chris Pierce’s rating is based on a combination of factors, including Beam Global’s recent quarterly performance and management’s strategic direction. The company’s revenue met expectations, and improvements in gross margins and cost management indicate operational progress. However, the current stock price seems to fairly represent the potential risks and rewards, given the company’s current market position.
Despite efforts to diversify beyond federal clients through commercial and international growth, the near-term outlook is challenged by reduced U.S. federal sales and a relatively small backlog. The valuation, calculated at approximately ten times the adjusted EBITDA estimate for 2029, suggests that the long-term prospects in the global EV infrastructure market and the company’s execution capabilities are already priced in.
Pierce covers the Consumer Cyclical sector, focusing on stocks such as Sonic Automotive, Tesla, and CarMax. According to TipRanks, Pierce has an average return of 0.5% and a 44.04% success rate on recommended stocks.
In another report released on August 13, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.50 price target.