Analyst Lance Vitanza of TD Cowen maintained a Hold rating on Inseego, with a price target of $11.00.
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Lance Vitanza’s rating is based on a combination of factors that reflect both positive and challenging aspects of Inseego’s current financial situation. The company’s second-quarter results exceeded expectations, largely due to strong performance in the Fixed Wireless Access (FWA) segment, which helped to counterbalance weaker results in the Mobile segment.
Looking ahead, Vitanza anticipates that Inseego’s third-quarter revenue and adjusted EBITDA will surpass the midpoint of their guidance, driven by ongoing momentum in the FWA sector. Despite potential challenges from delays in the E-Rate program and seasonal declines in the Mobile segment, the fourth quarter is expected to benefit from a revenue mix favoring higher-margin FWA, leading to improved profitability. Consequently, the price target has been adjusted to $11, reflecting increased expectations for FY25 adjusted EBITDA.
According to TipRanks, Vitanza is a 5-star analyst with an average return of 24.8% and a 48.56% success rate. Vitanza covers the Communication Services sector, focusing on stocks such as Liberty Media Liberty Formula One, TKO Group Holdings, and Clear Channel Outdoor.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $9.00 price target.