Oppenheimer Initiates a Buy Rating on Kaleyra (KLR)

By Austin Angelo

Kaleyra (KLRResearch Report) received a Buy rating and a $12.00 price target from Oppenheimer analyst Timothy Horan today. The company’s shares closed last Saturday at $3.88.

According to TipRanks.com, Horan is a top 100 analyst with an average return of 17.8% and a 73.7% success rate. Horan covers the Technology sector, focusing on stocks such as Limelight Networks, GTT Communications, and Boingo Wireless.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kaleyra with a $12.67 average price target.

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Based on Kaleyra’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $33.63 million and GAAP net loss of $8.82 million. In comparison, last year the company had a GAAP net loss of $247.3K.

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GigCapital, Inc. is an emerging growth company. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or other similar business combination with one or more businesses. The company was founded by Avishay S. Katz on October 9, 2017 and is headquartered in Palo Alto, CA.