Point Roberts, WA - August 17, 2018 (Investorideas.com Newswire) Investorideas.com, a global news source and investor resource covering tech stocks reports on recent analyst coverage for NXT-ID, Inc. (NASDAQ: NXTD) following recent Q2 results.
"Maxim analyst, Michael Diana said in an equity research update, "NXTD's 2Q18 results reflected strong progress in both payments (FitPay) and healthcare (LogicMark), in our view, with higher sequential-quarter revenues, lower sequential-quarter operating costs, and a gross profit margin of 68%.
"We expect continued progress, including multiple new products in 2019. Our 2019 estimates already reflect this progress, so we are leaving them basically unchanged. We are lowering our 2018 estimates, as we now expect more contribution from new products in 2019 and less in 2018.
"We are maintaining our price target at $4. Our price target represents, relative to other payments companies, a discount to multiples of 2019 EV/revenue and a premium to multiples of 2019 EV/Adjusted EBITDA (reflecting NXTD's early stage of development)."
Brian Kinstlinger, CFA and Managing Director Equity Research, Sr. Analyst Technology Alliance Global Partners also issued an update following the news saying, "NXTD's results were slightly better-than-expected, expect GarminPay will drive even stronger growth in 2H18. We reiterate our Buy rating."
About NXT- ID, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). With extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, NXT-ID develops and markets groundbreaking solutions for payment and IoT applications. Its industry-leading technology products and solutions include MobileBio®, a suite of biometric solutions that secure consumers' mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related subsidiaries: LogicMark, LLC, a manufacturer and distributor of non-monitored and monitored personal emergency response systems ("PERS") sold through dealers/distributors and the United States Department of Veterans Affairs; FitPay, Inc., a proprietary technology platform that delivers end-to-end solutions to device manufacturers for contactless payment capabilities, credential management, authentication and other secure services within the IoT ecosystem, and 3D-ID LLC, which is engaged in biometric identification and authentication. Learn more about NXT-ID at www.nxt-id.com FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc. For NXT-ID Inc. corporate information contact: NXT-ID Inc. Corporate Contact: firstname.lastname@example.org.
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