Maxim Group analyst Matthew Galinko maintained a Buy rating on WISeKey International Holding (WKEY – Research Report) yesterday and set a price target of $10.00.
Matthew Galinko has given his Buy rating due to a combination of factors that suggest potential growth and stability for WISeKey International Holding. Despite a decline in revenue in 2024, the company is expected to play a crucial role in addressing the challenges posed by quantum computing threats. This strategic positioning is anticipated to drive meaningful revenue recovery in the coming years, particularly from its semiconductor subsidiary, SEALSQ Corp.
Additionally, WISeKey’s substantial cash reserves of $90.6 million at the end of 2024 provide a solid financial foundation to support operations through at least 2027. The company’s focus on increasing R&D spending to certify new products and a promising pipeline of secured and pending business opportunities further bolster the positive outlook. Galinko’s confidence is also reflected in the $10 price target, supported by a valuation based on an EV/revenue multiple that is favorable compared to industry peers.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.00 price target.