Byrna Technologies Inc. (BYRN) is gearing up to release its third-quarter earnings results on Wednesday, October 9, before the opening bell. Analysts are expecting the Andover, Massachusetts-based company to report a profit of 5 cents per share, marking a substantial improvement from the 12-cent loss recorded in the same quarter last year.
Byrna Technologies has projected revenue of $20.8 million for the quarter, according to data from Benzinga Pro. Notably, on September 4, the company announced preliminary third-quarter financial results, revealing revenue exceeding estimates. This positive news was reflected in the stock’s performance, with Byrna Technologies shares rising by 9.4% to close at $18.95 on Friday.
To help investors navigate the upcoming earnings release, let’s delve into what analysts think about Byrna Technologies.
Roth MKM analyst Matt Koranda initiated coverage on the stock with a Buy rating and a price target of $14 on August 28. This analyst has an accuracy rate of 65%. Ladenburg Thalmann analyst Jon Hickman maintained a Buy rating and raised the price target from $12.75 to $16.25 on April 9. This analyst boasts an accuracy rate of 64%. B. Riley Securities analyst Jeff Van Sinderen reiterated a Buy rating and increased the price target from $14 to $17 on April 8. This analyst has an accuracy rate of 75%.
However, not all analysts are bullish. Raymond James analyst Brian Gesuale downgraded the stock from Strong Buy to Market Perform on September 27. This analyst has an accuracy rate of 73%.
With a mix of positive and cautious opinions, Byrna Technologies’ earnings release is sure to be a closely watched event. The company’s performance and future outlook will be under scrutiny as investors seek clarity on its growth trajectory.
