Rignet (RNET) Gets a Buy Rating from Maxim Group

By Austin Angelo

Maxim Group analyst Allen Klee maintained a Buy rating on Rignet (RNETResearch Report) today and set a price target of $24. The company’s shares closed on Friday at $14.20.

Klee wrote:

“RNET posted 4Q18 revenue of $60.2M, +6% y/y, below our estimate and consensus of $62.5M. However, Adjusted EBITDA of $10.5M, up 23% y/y, topped our estimate of $5.1M, on better margins.”

According to TipRanks.com, Klee has 0 stars on 0-5 star ranking scale with an average return of -6.2% and a 39.4% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and Atlantic Tele-Network.

Rignet has an analyst consensus of Moderate Buy, with a price target consensus of $24.

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The company has a one-year high of $24.05 and a one-year low of $10.03. Currently, Rignet has an average volume of 37.59K.

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RigNet, Inc. is a technology company, which engages in the provision of customized communications services, applications, and cybersecurity solutions. It operates through the following segments: Managed Services; Applications and Internet-of-Things; and Systems Integration.