Needham analyst Chris Pierce reiterated a Buy rating on Urgent.ly Inc (ULY – Research Report) today and set a price target of $1.00.
Chris Pierce has given his Buy rating due to a combination of factors that highlight Urgent.ly Inc’s potential for long-term success. The company is seen as a leader in modernizing roadside assistance by integrating digital technology, particularly through its advanced geospatial data capabilities. This technological edge is expected to position Urgent.ly Inc favorably in the market.
Despite a reduction in growth projections and a lowered price target to $1, the company’s confidence in renewing contracts and acquiring new customers supports a positive outlook. While there are concerns about the visibility of future revenue growth, the company’s aim to achieve non-GAAP operating breakeven by mid-2025 provides a strategic goal that could enhance investor confidence. The updated price target reflects a valuation based on future adjusted EBITDA estimates, underscoring the belief in the company’s potential profitability.
According to TipRanks, Pierce is an analyst with an average return of -22.6% and a 24.22% success rate. Pierce covers the Consumer Cyclical sector, focusing on stocks such as Blue Bird, Carvana Co, and CarMax.