Digital Ally’s (DGLY) “Buy” Rating Reiterated at Westpark Capital
Digital Ally (NASDAQ:DGLY)‘s stock had its “buy” rating reiterated by equities researchers at Westpark Capital in a research note issued on Wednesday. They currently have a $5.00 price target on the scientific and technical instruments company’s stock. Westpark Capital’s price objective suggests a potential upside of 16.28% from the stock’s previous close.
The analysts wrote, “We remain encouraged by these developments, as we view them as validation of the strength DGLY’s intellectual property. We trim our estimates marginally, as the patent infringement cases have been impacting the company’s topline estimates. However, we remain upbeat on the company’s prospects. We maintain our $5 PT.””
Several other brokerages have also recently weighed in on DGLY. ValuEngine upgraded Digital Ally from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Digital Ally from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st.
Digital Ally (NASDAQ:DGLY) last released its quarterly earnings data on Monday, August 20th. The scientific and technical instruments company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.05). Digital Ally had a negative net margin of 112.99% and a negative return on equity of 1,999.82%. The business had revenue of $3.56 million for the quarter, compared to analysts’ expectations of $4.23 million. analysts anticipate that Digital Ally will post -1.23 earnings per share for the current fiscal year.
Digital Ally Company Profile
Digital Ally, Inc produces and sells digital video imaging and storage products for use in law enforcement, security, and commercial applications in the United States and internationally. Its digital audio/video recording, storage, and other products include an in-car digital audio/video recorder that is contained in a rear view mirror for law enforcement vehicles and commercial fleets; and hands-free automatic activated body-worn cameras and in-car video systems, as well as provides its law enforcement customers with audio/video surveillance from multiple vantage points.
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