Scott Buck, an analyst from H.C. Wainwright, maintained the Buy rating on Widepoint. The associated price target remains the same with $9.00.
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Scott Buck has given his Buy rating due to a combination of factors including WidePoint’s recent contract awards and a promising sales pipeline. The company has secured significant contracts such as a $40-45 million SaaS contract and a $27.5 million task order from U.S. Customs & Border Protection, which are expected to boost revenue in 2026. Additionally, WidePoint is well-positioned to win a $3 billion, ten-year CWMS 3.0 contract, potentially serving as a major catalyst for revenue growth.
Furthermore, the company’s strong contracted backlog and potential in the device-as-a-service business indicate accelerating revenue growth and improved margins in the future. With a current cash balance of $12.2 million, WidePoint may also pursue growth through mergers and acquisitions. These factors, combined with the expectation of positive EPS and improved financial performance, support the Buy rating and a price target of $9.00.
Buck covers the Technology sector, focusing on stocks such as Lightpath Technologies, Veritone, and Mogo Finance Technology. According to TipRanks, Buck has an average return of 0.0% and a 31.38% success rate on recommended stocks.