ID Systems (IDSY) Receives a Buy from Ladenburg

By Austin Angelo

Ladenburg analyst Glenn G Mattson reiterated a Buy rating on ID Systems (NASDAQ: IDSY) on September 10 and set a price target of $10. The company’s shares closed yesterday at $6.28.

G Mattson commented:

“We spent time with IDSY management last week, and the company continues to reiterate the commentary from the early August earnings call regarding Avis (CAR, $31.81, Not Rated). As a reminder, IDSY is in the final stages of deploying the initial 50,000 unit order for the Unified Telematics Platform (UTP) hardware on Avis rental vehicles. Though there was a July 19th deadline for Avis to re-up for another 50,000 units if it wanted to maintain exclusivity, the company continues to be in negotiations. The deployment of the first units has gone extremely well with quick installations and high utilization rates in the field.”

According to TipRanks.com, Mattson is a 4-star analyst with an average return of 15.8% and a 56.5% success rate. Mattson covers the Technology sector, focusing on stocks such as Progress Software Corp, Brightcove Inc, and Digimarc Corp.

Currently, the analyst consensus on ID Systems is a Strong Buy with an average price target of $9.03, a 43.8% upside from current levels. In a report issued on August 27, National Securities Corp also initiated coverage with a Buy rating on the stock with a $8.60 price target.

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Based on ID Systems’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.12 million. In comparison, last year the company had a GAAP net loss of $524K.

Based on the recent corporate insider activity of 33 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.