B.Riley FBR Issues a Buy Rating on ID Systems (IDSY)

By Austin Angelo

In a report released today, Josh Nichols from B.Riley FBR assigned a Buy rating to ID Systems (IDSYResearch Report), with a price target of $8.50. The company’s shares opened today at $5.59.

Nichols observed:

“Buy-rated I.D. Systems (IDSY , $8.50 PT), which will be presenting at the 20th Annual B. Riley FBR 22-23, reports 1Q results, after the close, on Thursday, 5/2, call at 4:45PM ET (Dial-in: 877.307.1379, Conference ID: 7987438). We model $11.7M in revenue and $(0.01) pro forma EPS relative to consensus of $12.3M and $(0.03), respectively. 2019 is setting up to be a transformative year for IDSY with multiple tailwinds to support growth (75k unit Avis expansion, CarrierWeb acquisition, and multi-year fleet management agreement with Jungheinrich). In this regard, on the last earnings call, CEO Chris Wolfe noted that he expects the company’s Industrial Truck Management business ($30M of revenue in 2018) to increase 20% in 2019.”

According to TipRanks.com, Nichols is a 4-star analyst with an average return of 11.3% and a 42.9% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.

ID Systems has an analyst consensus of Moderate Buy, with a price target consensus of $8.50.

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Based on ID Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.81 million. In comparison, last year the company had a GAAP net loss of $990K.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IDSY in relation to earlier this year.

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I.D. Systems, Inc. engages in the development, marketing, and sale of wireless machine to machine solutions for managing and securing enterprise assets. Its business activities focus on the following primary applications: industrial fleet management, transportation asset management, and rental fleet management.