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Robert W. Baird Thinks TuSimple Holdings’ Stock is Going to Recover

Robert W. Baird analyst Ben Kallo maintained a Buy rating on TuSimple Holdings (TSPResearch Report) on December 22 and set a price target of $52.00. The company’s shares closed last Wednesday at $32.09, close to its 52-week low of $27.24.

According to TipRanks.com, Kallo is a 5-star analyst with an average return of 14.1% and a 61.3% success rate. Kallo covers the Basic Materials sector, focusing on stocks such as Archer Daniels Midland, Darling Ingredients, and Atotech.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TuSimple Holdings with a $56.22 average price target, representing a 41.0% upside. In a report issued on December 10, Needham also reiterated a Buy rating on the stock with a $60.00 price target.

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Based on TuSimple Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $584K and GAAP net loss of $89.45 million. In comparison, last year the company earned revenue of $1.79 million and had a GAAP net loss of $115 million.

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TuSimple Holdings Inc is an autonomous technology company in the global truck freight market. It has developed a technology for semi-trucks to build the Autonomous Freight Network (AFN) in partnership with shippers, carriers, railroads, freight brokers, fleet asset owners, and truck hardware partners. The company recognizes revenue primarily from providing freight capacity services.

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