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Digital Ally Set For Its First Profitable Quarter Since 2013, Says Roth Capital

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Digital Ally Set For Its First Profitable Quarter Since 2013, Says Roth Capital

  • 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 expectations of 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.

    Improvement Drivers

    The experts anticipate the improvement in company 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.”

    Related Link: How Taser's Growth Is "Coming At A Cost"

    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 relaunch 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.

    Image Credit: Public Domain

    Latest Ratings for DGLY

    DateFirmActionFromTo
    Jun 2020Aegis CapitalInitiates Coverage OnBuy
    Apr 2018Maxim GroupDowngradesBuyHold
    Nov 2017Maxim GroupMaintainsBuy

    View More Analyst Ratings for DGLY
    View the Latest Analyst Ratings

     

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