Benchmark Co. analyst Bruce Jackson maintained a Buy rating on Movano (MOVE – Research Report) yesterday and set a price target of $30.00.
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Bruce Jackson has given his Buy rating due to a combination of factors that highlight Movano’s strategic positioning and technological advancements. The company’s latest System-on-a-Chip prototype for cuffless blood pressure measurement has shown promising results, with a mean absolute difference significantly below the FDA’s required threshold. This innovation, coupled with the device’s ability to measure other vital signs, positions Movano well in the growing market of wearable healthcare devices.
Additionally, Movano’s EvieMED ring has received FDA clearance, providing medical-grade data for professional use, which the company plans to leverage across various industries. The introduction of the EvieAI virtual wellness assistant further enhances their product offerings, showcasing Movano’s commitment to integrating advanced technology with healthcare solutions. These developments, along with potential partnerships in the B2B segment, suggest that Movano is undervalued, making it an attractive investment opportunity.