Scott Buck, an analyst from H.C. Wainwright, reiterated the Buy rating on NexTech AR Solutions. The associated price target remains the same with $0.25.
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Scott Buck’s rating is based on several positive developments within NexTech AR Solutions. The company has shown consistent revenue growth over the past three quarters, indicating a recovery from previous revenue troughs. This growth is supported by impressive gross margins, which have exceeded expectations and are anticipated to remain elevated. Additionally, the company’s operational expenses have been kept under control, suggesting potential for operating leverage as revenue scales.
Furthermore, NexTech’s strategic acquisition of Eventdex is expected to bolster its event technology business, providing a strong customer base and additional revenue streams. The Map D platform already supports numerous events annually, presenting an immediate opportunity for growth. While the 3D modeling sector remains promising, the event business is seen as a more significant growth driver in the near term. These factors, combined with a favorable valuation and a substantial upside potential, underpin Scott Buck’s Buy rating for NEXCF shares.
Buck covers the Technology sector, focusing on stocks such as Lightpath Technologies, Veritone, and Mogo Finance Technology. According to TipRanks, Buck has an average return of 5.6% and a 33.47% success rate on recommended stocks.