Airgain (AIRG) PT Lowered to $22 at Roth Capital
Get Alerts AIRG Hot Sheet
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Roth Capital analyst Scott Searle lowered the price target on Airgain (NASDAQ: AIRG) to $22.00 (from $25.00) while maintaining a Buy rating.
The analyst comments "Near-term, we believe that supply chain headwinds within the WiFi and cellular ecosystems pose challenges. On a positive note, cellular module demand (Nimbelink) and interest from the $1200 AirgainConnect rebate are driving significant interest. We are lowering our 3Q21 estimates to the lower end of $15-17M guidance to reflect WiFi and cellular headwinds. Despite the nearterm risk, the valuation (0.9x EV/sales) and opportunity, particularly for HPUE, are intriguing. We maintain our Buy rating and lower our PT to $22."
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