The Internet changed the world and the way we interact. It made this that were beyond imaginable, possible. Today, technology is surging forward, offering more wonders day by day. For the past several years, Internet stocks multiplied and gathered strength. Companies like Lantronix have taken a big chunk of the stocks market.
Lantronix is a designer, as well as a developer of network device servers, optimized for the access, configuration, control, and management of IoT protocols. The company’s revenue showed a significant gain in its fiscal second quarter in 2019. It grew by 9% year-over-year and 4% sequentially, reaching $13.2 million.
On the other hand, Lantronix’s EPS came in at a net loss of 6 cents. But compared to the 11-cent loss of the previous quarter, it’s still a success. The company expects to continue gaining. While this year was very hard for a majority of futures, due to the coronavirus outbreak, so far, the stock’s forecast is favorable.
Even with current conditions and supply chain disruptions caused by the pandemic, Lantronix is moving toward $15 to $17 million in fiscal third-quarter revenue. That is down by 11% from previous guidance but still presents 21% sequential growth.
Scott Searle, Roth Capital’s analyst, advises grabbing internet stocks, particularly Lantronix, as he considers it a strong-buy. According to him, the company performance during the current downturn is satisfying, as the market demand appears to be healthy.
Furthermore, the pipeline of opportunities continues to grow, including a new video conferencing customer who continues to add orders. Lantronix is also accelerating integration, as well as cost reduction. And currently, it has a good entry point, as the price is lower due to the crisis.
Searle set his prices to target at $6 for Lantronix, with a 111% upside potential. However, the stock is traded at just $2.84 presently. The $5 average price target has a 76% upside potential in the next 12 months.
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