Analyst Peter McNally of Stifel Nicolaus maintained a Buy rating on Seeing Machines, with a price target of p9.60.
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Peter McNally has given his Buy rating due to a combination of factors that highlight Seeing Machines’ promising growth trajectory. The company’s automotive production volumes have shown a significant increase, rising by 26% year-over-year and 4% quarter-over-quarter, reaching 510,000 units. This growth is expected to continue as the deadline for the General Safety Regulation (GSR) approaches, which mandates Driver Monitoring Systems (DMS) in all passenger cars in Europe.
Furthermore, Seeing Machines has achieved a substantial milestone with 4.2 million cars on the road equipped with their technology, marking a 62% increase from the previous year. Despite some volatility in sales, the overall trend remains positive, with expectations of further volume increases in the upcoming quarters. The company is also on track to reach its cash flow breakeven target by the end of the year, reinforcing the optimistic outlook for its financial performance.
According to TipRanks, McNally is an analyst with an average return of -19.5% and a 26.15% success rate.