In a report released yesterday, Jack Vander Aarde from Maxim Group reiterated a Buy rating on VerifyMe, with a price target of $1.50.
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Jack Vander Aarde has given his Buy rating due to a combination of factors that indicate a positive future outlook for VerifyMe. The company’s recent agreement with UPS is expected to significantly contribute to its growth, providing substantial benefits and integrations into the UPS network. This partnership is anticipated to materialize by 2026, supporting a rebound in organic growth.
Additionally, VerifyMe’s financial position appears stable, with $6.1 million in cash and minimal debt, which is expected to sustain the company despite current revenue challenges. The company’s efforts in cost rationalization have led to better-than-expected EBITDA results, and management’s strategic shifts, including expanding relationships with multiple freight carriers, are poised to enhance revenue growth and margin profiles. These factors collectively underpin the optimistic outlook and the Buy rating for VRME stock.
According to TipRanks, Vander Aarde is a 2-star analyst with an average return of 0.9% and a 29.87% success rate. Vander Aarde covers the Technology sector, focusing on stocks such as Datavault AI, Siyata Mobile, and Alarm.
In another report released on August 14, Barrington also maintained a Buy rating on the stock with a $1.50 price target.