Analyst Kevin Dede of H.C. Wainwright reiterated a Buy rating on WISeKey International Holding (WKEY – Research Report), with a price target of $4.00.
Kevin Dede has given his Buy rating due to a combination of factors, including WISeKey’s strategic initiatives and future growth potential. The company is advancing several projects such as the integration of ASIC verticals into its SEALSQ Corp subsidiary, the development of quantum-ready semiconductors, and the expansion of its satellite constellation, all of which are expected to drive business improvement in the coming years.
Despite a significant drop in revenue from the previous year, Dede sees potential in WISeKey’s focus on enhancing cryptographic protection, which could tap into a substantial market demand. Although the company faces challenges with current sales figures and the timing of new technology rollouts, the anticipation of improved sales performance and the strategic positioning in the security market underpin the Buy rating and the $4.00 price target.