Jefferies initiated coverage of Presto Automation with a Hold rating and 62c price target. The company’s growth strategy hinges on restaurants adopting AI-based solutions to run more efficiently, notes the analyst. On the positive side, management has reported having several MSAs or pilot agreements for its Voice solution, but on the negative side traction has been limited and AI solutions currently drive immaterial revenue, says the analyst, who sees the current financial profile as a risk and would remain on the sidelines.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PRST:
- Presto’s Voice™ AI Solution Projected to Capitalize on Strong Momentum as Company Releases 2024 Projected Annualized Run Rate
- Presto Automation initiated with bullish view at Northland, here’s why
- Presto Automation escalates activities to collect up to $11.1M from ruling
- Presto Automation appoints Kat Hoffman-Flynt as COO
- Presto Automation appoints Steve Herbert as advisor for Presto Touch