Roth Capital Reiterates Buy on ORBCOMM (ORBC) Following Equity Offering
- Tech stocks, Nike drag Wall Street lower after two-day sharp rally
- Over $100 Billion Wiped Off: Bitcoin (BTC) Price Falls As China's Central Bank Vows to Ban Cryptocurrency Trading
- Nike (NKE) Stock Falls On a Revenue Miss and Slashed FY Sales Outlook, Analysts Bullish Despite NT Supply Chain Challenges
- Oil hits highest in almost 3 years as supply tightens
- Here's Why Meredith (MDP) Stock Price Soared 18% in After Hours
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Roth Capital reiterated a Buy rating and $14.00 price target on ORBCOMM (NASDAQ: ORBC) following the company's equity offering. The offering will add approximately $28M (after fees) to the balance sheet. Analyst Scott Searle expects this will likely be earmarked for future M&A as the company continues to acquire attractive assets in tracking and monitoring verticals.
Preliminary 1Q18 expectations for the revenue and EBITDA ($66-69M and $9-10M) bracket Roth's expectations of $67.4M and $9.0M and narrow the guided range of $65-70M in sales (EBITDA guidance was $9-10M).
Shares of ORBCOMM closed at $8.85 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 'A Must Own Asset for Growth Investors': Piper Upgrades Salesforce (CRM) to Overweight, Says There's Room for 30% Gains
- Kansai Nerolac Paints Limited (KNPL:IN) PT Lowered to INR670 at Macquarie
- Titan Company (TTAN:IN) PT Raised to INR2,500 at Macquarie
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRoth Capital, Definitive Agreement, Equity Offerings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!