Maxim starts Nogin at Buy, sees positive cash flow in second half of this year

Maxim analyst Jack Vander Aarde initiated coverage of Nogin with a Buy rating and $3 price target. The company is well-established within the apparel and fashion industry, while also recently diversifying and expanding into new categories, supporting brands such as Kenneth Cole, Scotch & Soda, Brookstone, and Matisse, the analyst tells investors in a research note. Nogin is also on track for positive cash flow beginning in the second half of this year and should not require additional capital to sustain operations, excluding potential future acquisitions or other strategic developments, the firm added.