Inseego (INSG – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Lance Vitanza from TD Cowen maintained a Hold rating on the stock and has a $10.00 price target.
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Lance Vitanza’s rating is based on a combination of factors impacting Inseego’s performance. The company reported revenue that met expectations for the first quarter and exceeded the adjusted EBITDA forecast, largely due to positive results in the mobile segment and strong margin performance, which helped counterbalance weaknesses in the fixed wireless access (FWA) area.
However, Vitanza has adjusted his estimates for the second quarter and fiscal year 2025 downward, citing pressures in the mobile segment due to reliance on a limited number of carriers. Additionally, the company’s strategic execution remains unproven, leading to a more conservative outlook than previously anticipated. Consequently, the price target has been lowered to $10 from $13, reflecting these revised expectations.
According to TipRanks, Vitanza is a 5-star analyst with an average return of 27.1% and a 53.37% success rate. Vitanza covers the Communication Services sector, focusing on stocks such as Opera, Clear Channel Outdoor, and Liberty Media Liberty Formula One.
In another report released on May 9, Stifel Nicolaus also maintained a Hold rating on the stock with a $8.00 price target.
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