Market Overview

For Smart Glasses Maker Vuzix, 2018 Could Be 'Transformative'

For Smart Glasses Maker Vuzix, 2018 Could Be 'Transformative'

Smart glasses manufacturer Vuzix Corp (NASDAQ: VUZI) could have a breakout year in 2018, according to a bullish analyst.

Smart glasses are touted as a product of the future but have yet to hit a critical mass with consumers or at the enterprise level.

The Analyst

James McIlree of Chardan reiterated a Buy rating on Vuzix with a $10 price target.

The Thesis

Vuzix is coming off a $12.5-million capital raise and signed a three-year supply agreement with Toshiba that's expected to result in at least $5 million in revenue in 2018, McIlree said. (See the analyst's track record here.) 

A strong balance sheet puts the company in a superior position to attract additional strategic partners as the industry continues to see more momentum, with competitor Magic Leap grabbing headlines, the analyst said. 

Demand for Vuzix' flagship product, the M300, is strong, and the company is expanding its VIP channel, according to Chardan.

A key catalyst moving forward will be the company’s latest product, The Blade, a smart pair of sunglasses that weighs less than 3 ounces. Vuzix is expected to highlight its advanced technology at CES next month.

“The Blade is a truly breakthrough product. The company is taking preorders for the Blade developer kit, and the product remains on track for full scale production next year,” McIlree said.

The Blade is expected to have an average selling price north of $800, with the potential of thousands of unit sales next year. Revenue could come in at $1 to $3 million in 2018, McIlree said.

“Smart Glasses technology can become the basis for a new consumer and business platform for communications, and the potential market is extremely large — and has driven private market valuations for companies in the space to multibillion dollar levels,” the analyst said.

Price Action

Vuzix shares were trading up 2.12 percent at $6.02 midday Tuesday.

Related Links: 

Lake Street Feels Confident In Himax Growth Opportunities

Loup Ventures: Tech Giants Have Invested In 217 AR, VR Startups

The Vuzix M300. Courtesy photo.

Latest Ratings for VUZI

Mar 2018Maxim GroupMaintainsBuyBuy
Jan 2018Maxim GroupMaintainsBuyBuy
Oct 2016Maxim GroupInitiates Coverage OnBuy

View More Analyst Ratings for VUZI
View the Latest Analyst Ratings


Related Articles (VUZI)

View Comments and Join the Discussion!

Posted-In: CES Chardan James McIlreeAnalyst Color Price Target Reiteration Analyst Ratings Tech Best of Benzinga

Latest Ratings

XRXJP MorganMaintains25.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at