Northland Reiterates Outperform Rating on Duos Technologies Group (DUOT)

Northland analyst Michael Latimore reiterated an Outperform rating and $5.50 price target on Duos Technologies Group (NASDAQ: DUOT).

The analyst comments "1Q was slightly light on revenue and beat on EBITDA. Management sees service revenue, mainly from railroad customers, growing 50-75% by year end. Duos won a new $2.7 mil system sale. The company is putting more resources behind its Edge AI data center initiative, which has torrid demand. Lowering FY24 revs to $14.7 mil from $16.4 mil, and FY25 to $20.6 mil from $30.0 mil, with service growing 147%."

For an analyst ratings summary and ratings history on Duos Technologies Group click here. For more ratings news on Duos Technologies Group click here.

Shares of Duos Technologies Group closed at $2.90 yesterday.

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