WidePoint Co. (WYY) Rating Increased to Strong-Buy at Zacks Investment Research
WidePoint Co. (NYSE:WYY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $0.75 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 7.16% from the company’s previous close.
According to Zacks, “WidePoint is a technology-based provider of products and services to the government sector and commercial markets. WidePoint specializes in providing systems engineering, integration and information technology services. WidePoint’s wholly owned subsidiary, ORC, is at the forefront of implementing government-compliant eAuthentication identity management managed services and associated systems engineering/integration. ORC has earned four major U.S. federal government certifications offering the highest levels of assurance for transactions over the Internet. WidePoint’s profile of customers encompasses U.S. Federal Government agencies, including the Department of Defense, the Department of Homeland Security and the Department of Justice as well as major U.S. defense contractors and several major pharmaceutical companies. “
Separately, B. Riley reaffirmed a “buy” rating and set a $1.50 price objective on shares of WidePoint in a research note on Monday.
WidePoint (NYSE:WYY) opened at 0.6946 on Tuesday. WidePoint has a 1-year low of $0.37 and a 1-year high of $0.94. The company’s 50-day moving average price is $0.45 and its 200-day moving average price is $0.58. The firm’s market capitalization is $57.46 million.
WidePoint Corporation is a provider of information technology (IT)-based products, services and solutions. The Company offers secure, cloud-based, enterprise-wide IT-based solutions that enable commercial markets, and federal and state government organizations, to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements.
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