In a report released yesterday, Matthew Galinko from Maxim Group maintained a Buy rating on ZenaTech, Inc., with a price target of $9.00.
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Matthew Galinko has given his Buy rating due to a combination of factors that highlight ZenaTech, Inc.’s strategic positioning and growth potential. The company has demonstrated significant revenue growth, particularly in its Drone-as-a-Service (DaaS) segment, which has been bolstered by a series of strategic acquisitions of land survey engineering firms. This approach not only enhances ZenaTech’s operational capabilities but also positions it uniquely in the market as it builds a comprehensive DaaS platform.
Furthermore, ZenaTech is poised to benefit from increasing demand for drone technology in defense and commercial sectors, supported by more favorable regulatory conditions. Despite a wider adjusted EBITDA loss due to increased spending on scaling operations, the company’s robust balance sheet and access to revolving credit provide financial stability. Galinko’s confidence is further reflected in the maintained price target of $9.00, based on a 10-year discounted cash flow analysis, underscoring the long-term growth prospects of ZenaTech.
According to TipRanks, Galinko is a 4-star analyst with an average return of 8.5% and a 37.74% success rate. Galinko covers the Technology sector, focusing on stocks such as Ondas Holdings, Adeia, and Unisys.