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- Digital Ally, Inc. (NASDAQ: DGLY) will announce its third quarter financial results after the market closes on Wednesday.
- Ahead of the earnings call, Roth Capital Partners analyst William Gibson shared a preview of the results, assuring he expects a profitable quarter.
- The firm reiterated a Buy rating and $16 price target on the shares.
Digital Ally will release its third quarter results on Wednesday afternoon. Ahead of the earnings call, analysts at Roth Capital assured they expect to see the first profitable quarter since the first quarter of 2013. According to the research note, the firm models earnings of $530,000 or $0.11 per share, and revenue of $6.6 million, up 42 percent year-over-year.
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The experts anticipate the improvement in the company’s earnings and revenue profile to have been driven by “demand for body-worn cameras by law enforcement agencies, which in turn is generating a renewed interest for in-car video systems.”
In fact, they noted, body camera leader TASER International, Inc. (NASDAQ: TASR) recently released a new in-car video system, while Motorola announced a new body camera in October. The experts expect Digital Ally to “remain among the leading competitors in both product lines.”
Orders are looking strong and diversified, the report added. In addition, the company could re-launch the Laser Ally in September, after a dispute with a supplier settled in its favor.
Shares of Digital Ally were down more than 4.5 percent on Tuesday afternoon, ahead of the earnings call.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.