Inseego Corp Receives a Hold from Canaccord Genuity

By Jason Carr

In a report released today, Michael Walkley from Canaccord Genuity reiterated a Hold rating on Inseego Corp (NASDAQ: INSG), with a price target of $1.25. The company’s shares opened today at $1.25, close to its 52-week low of $0.90.

According to TipRanks.com, Walkley is a top 25 analyst with an average return of 22.8% and a 66.9% success rate. Walkley covers the Technology sector, focusing on stocks such as Sequans Communications S A, Digi International Inc, and Powerwave Technologies.

Inseego Corp has an analyst consensus of Hold, with a price target consensus of $1.25.

Based on Inseego Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $55.39 million and GAAP net loss of $16.1 million. In comparison, last year the company earned revenue of $66.94 million and had a GAAP net loss of $11.9 million.

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Inseego Corp. engages in the provision of software-as-a-service and solutions for the Internet of Things. It offers a range of products through the Ctrack brand including fleet management, asset tracking and monitoring, stolen vehicle recovery, and usage-based insurance platforms. It also offers business connectivity solutions and device management services. It operates through the Mobile Computing and Machine to Machine business divisions. The company was founded on July 20, 2016 and is headquartered in Wilmington, DE.