Analyst Nick Doyle of Needham maintained a Buy rating on Everspin Technologies, with a price target of $8.00.
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Nick Doyle’s rating is based on Everspin Technologies’ recent performance and future potential. The company reported strong growth in the second quarter, particularly in the Data Center and Industrial Automation sectors. This growth was supported by the introduction of new xSPI products, which indicates that the company’s strategy to expand its product offerings is effective.
Furthermore, positive developments in licensing, including the Amentum contract, contribute to a favorable outlook. The transition of an STT distributor also strengthened the company’s financial position. Doyle anticipates continued execution success and sees opportunities for growth in new product launches and diversification into Auto, Space, and FPGA markets, supporting his Buy rating with a price target of $8.
In another report released today, Craig-Hallum also maintained a Buy rating on the stock with a $9.00 price target.