CalAmp Corp. (CAMP) PT Raised to $15 at Northland Capital Markets

June 25, 2021 9:00 AM EDT
Get Alerts CAMP Hot Sheet
Price: $12.13 -1.3%

Rating Summary:
    10 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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Northland Capital Markets analyst Michael Latimore raised the price target on CalAmp Corp. (NASDAQ: CAMP) to $15.00 (from $14.00) while maintaining an Outperform rating.

The analyst commented, "CAMP made 1Q consensus and grew SaaS 26% y/y. Bookings were strong leading to a 10-15% seq increase in backlog, which is now at record levels. Management is not giving guidance yet, however, given continued component shortages. We are keeping our FY22 revenue estimate with more 2H loading. CAMP is seeing strong demand in particular in the transportation, logistics and heavy equipment verticals. Management sees component issues abating in 2H."

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