UPDATE: Craig-Hallum Starts DMY Technology Group (DMYQ) at Buy
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Craig-Hallum analyst Jeff Van Rhee initiates coverage on DMY Technology Group (NYSE: DMYQ) with a Buy rating and a price target of $15.00.
The analyst comments "Incremental Margins are going to be very high because of the unique “image once - sell to many” business model. Since ’13, the company has focused on laying the groundwork for the business, including building/launching/managing the satellites, designing and optimizing a robust platform to manage/cleanse the content, and complementing that with a front-end access/delivery layer of dashboards/portals/APIs to enable smooth consumption. With this complete, the company is now tapping capital markets to fund an aggressive sales buildout (2.5x the sales team over the next 2 years) with the goal of materially accelerating top line growth from the 27% revenue CAGR seen over the last 5 years."
Shares of DMY Technology Group closed at $9.95 yesterday.
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