Chris Pierce, an analyst from Needham, reiterated the Buy rating on Urgent.ly Inc. The associated price target was lowered to $8.00.
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Chris Pierce’s rating is based on several compelling factors. Urgent.ly Inc is positioned to secure new business and increase its revenue in the near term, thanks to its technological edge over competitors, recent contract acquisitions, and favorable comparisons with past performance. The company maintains stable gross margins and exercises disciplined operational expenses, which further supports its growth potential.
In the longer term, although the balance sheet remains a concern, Urgent.ly is expected to be in a stronger position to attract new capital at lower rates by 2026. The price target of $8 reflects a 10x multiple on the adjusted EBITDA estimate for fiscal year 2026, indicating confidence in the company’s financial trajectory and strategic execution.