- Marzo 28, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Located in Scottsdale, AZ, the smart home automation company, SmartRent, develops technology-enabled smart solutions for property owners, managers and homebuilders. The company was established in 2017 with the aim of providing fully integrated, brand-agnostic hardware and software solutions to the real estate industry.
In its recent quarterly results, the company posted mixed results for the fourth quarter ended December 31, 2021. While total revenues for the quarter jumped 155% from the previous year to $34.7 million and surpassed the consensus estimate of $31.4 million, its loss per share of $0.13 for the quarter, although narrower than the loss of $1.03 in the prior year, came in wider than the consensus estimate of a loss $0.09 per share.
Recently, Colliers Securities analyst Barry Oxford reiterated a Buy rating on the stock with a price target of $9, which implies upside potential of 63.3% from current levels.
Strong revenue and earnings growth in the recent quarterly results gives the analyst confidence that the stock is well-poised for appreciation in the future.
Overall, Consensus among analysts is a Strong Buy based on four Buys and one Hold. SmartRent’s average price target of $10.56 implies upside potential of 91.7% from current levels. Shares have declined 44.7% over the past year.
