Analyst Alert for NXT-ID, Inc. (NASDAQ: $NXTD):
Maxim Group Issues Buy Target Price of $4
Alliance Global
Partners/AGP Reiterates Buy Rating on $NXTD – “Additional Garmin Watches
Position NXTD for Stronger Demand Trends”
Point Roberts, WA August 17, 2018– Investorideas.com, a global
news source and investor resource covering tech stocks reports on recent
analyst coverage for NXT-ID, Inc. (NASDAQ: NXTD) following
recent Q2 results.
Maxim analyst, Michael Diana said in an equity
research update, “NXTD’s 2Q18 results reflected strong progress in both
payments (FitPay) and healthcare (LogicMark), in our view, with higher
sequential-quarter revenues, lower sequential-quarter operating costs, and a
gross profit margin of 68%.
“We expect continued progress, including multiple
new products in 2019. Our 2019 estimates already reflect this progress, so we
are leaving them basically unchanged. We are lowering our 2018 estimates, as we
now expect more contribution from new products in 2019 and less in 2018.
“We are maintaining our price target at $4. Our
price target represents, relative to other payments companies, a discount to
multiples of 2019 EV/revenue and a premium to multiples of 2019 EV/Adjusted
EBITDA (reflecting NXTD's early stage of development).”
Brian Kinstlinger, CFA and Managing Director Equity
Research, Sr. Analyst Technology Alliance Global Partners also issued an update
following the news saying, “NXTD's results were slightly better-than-expected,
expect GarminPay will drive even stronger growth in 2H18. We reiterate our Buy
rating."
About NXT- ID,
Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a
comprehensive platform of technology products and services that enable the
Internet of Things (IoT). With extensive experience in access control,
biometric and behavior-metric identity verification, security and privacy,
encryption and data protection, payments, miniaturization and sensor
technologies, NXT-ID develops and markets groundbreaking solutions for payment
and IoT applications. Its industry-leading technology products and solutions
include MobileBio®, a suite of biometric solutions that secure consumers'
mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a
digital credit card developed in collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related
subsidiaries: LogicMark, LLC, a manufacturer and distributor of non-monitored
and monitored personal emergency response systems ("PERS") sold
through dealers/distributors and the United States Department of Veterans
Affairs; FitPay, Inc., a proprietary technology platform that delivers
end-to-end solutions to device manufacturers for contactless payment
capabilities, credential management, authentication and other secure services
within the IoT ecosystem, and 3D-ID LLC, which is engaged in biometric
identification and authentication. Learn more about NXT-ID at www.nxt-id.com
FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc.
For NXT-ID Inc. corporate information contact: NXT-ID Inc. Corporate Contact: info@nxt-id.com.
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