Inseego (NASDAQ:INSG) had its target price boosted by Cowen from $8.00 to $9.00 in a research note released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the technology company’s stock.
A number of other equities analysts also recently weighed in on the company. Lake Street Capital upped their price target on Inseego from $6.50 to $9.00 and gave the stock a buy rating in a research report on Thursday, January 9th. Northland Securities reaffirmed a buy rating and set a $8.00 price target on shares of Inseego in a research report on Thursday, January 9th. ValuEngine downgraded Inseego from a buy rating to a hold rating in a research report on Tuesday, December 3rd. Canaccord Genuity upped their price objective on Inseego from $7.00 to $8.50 and gave the stock a buy rating in a research note on Monday, October 28th. Finally, BidaskClub cut Inseego from a buy rating to a hold rating in a research note on Saturday, January 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $8.38.
NASDAQ:INSG opened at $8.20 on Monday. Inseego has a twelve month low of $3.61 and a twelve month high of $8.95. The business has a 50 day moving average price of $7.16 and a two-hundred day moving average price of $5.40. The company has a market cap of $630.84 million, a P/E ratio of -68.33 and a beta of 0.78.
Inseego (NASDAQ:INSG) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The firm had revenue of $62.72 million for the quarter, compared to analyst estimates of $59.77 million. During the same period last year, the company earned ($0.10) EPS. The company’s revenue was up 23.9% compared to the same quarter last year. As a group, research analysts forecast that Inseego will post -0.48 EPS for the current year.
Several institutional investors have recently made changes to their positions in INSG. BlackRock Inc. raised its stake in shares of Inseego by 229.2% during the 2nd quarter. BlackRock Inc. now owns 2,918,234 shares of the technology company’s stock worth $13,977,000 after purchasing an additional 2,031,809 shares in the last quarter. Vanguard Group Inc. raised its stake in Inseego by 31.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,235,809 shares of the technology company’s stock valued at $10,709,000 after acquiring an additional 535,156 shares during the period. Bank of New York Mellon Corp raised its stake in Inseego by 323.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 155,048 shares of the technology company’s stock valued at $742,000 after acquiring an additional 118,450 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Inseego by 666.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 106,603 shares of the technology company’s stock valued at $511,000 after acquiring an additional 92,703 shares during the period. Finally, Family Management Corp raised its stake in Inseego by 42.1% in the 2nd quarter. Family Management Corp now owns 299,527 shares of the technology company’s stock valued at $1,435,000 after acquiring an additional 88,802 shares during the period. Institutional investors own 47.05% of the company’s stock.
Inseego Company Profile
Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.
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