Napco Security Technologies (NSSC) Initiated with a Buy at Needham

By Austin Angelo

Needham analyst Richard Valera initiated coverage with a Buy rating on Napco Security Technologies (NSSCResearch Report) today and set a price target of $35.00. The company’s shares closed last Monday at $27.15.

According to TipRanks.com, Valera is a 5-star analyst with an average return of 22.0% and a 68.8% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.

Currently, the analyst consensus on Napco Security Technologies is a Strong Buy with an average price target of $33.50.

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Based on Napco Security Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $23.17 million and net profit of $2.32 million. In comparison, last year the company earned revenue of $26.29 million and had a net profit of $3.23 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NSSC 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.

Napco Security Technologies, Inc. engages in the development, manufacture, and distribution of security products. It operates though Domestic and Foreign geographical segments. Its products include access control systems,door security products, intrusion and fire alarm systems, video surveillance products, and cellular communications services. The company was founded in 1969 and is headquartered in Amityville, NY.