DA Davidson Upgrades Intellicheck Inc. (IDN) to Buy

DA Davidson analyst Rudy Kessinger upgraded Intellicheck Inc. (NASDAQ: IDN) from Neutral to Buy with a price target of $5.50 (from $3.00).

The analyst comments "This morning, IDN announced a new contract expansion with a SE Regional Bank with a low-7-figure initial ACV & a “very high” 7-figure TCV over three years. They will now be a top 3 customer for IDN, and we note the threshold to be a top 3 customer is ~$2M+ in annual Revenue. This compares to the mid-6 figure ACV that we believe this previously had. The additional contracted Revenue ($1.3-1.5M+/yr.) is expected to begin flowing in Q3. We are raising our CY25 & CY26 growth estimates by 2pts & 6pts, respectively, and are upgrading shares from Neutral to BUY. Raising our PT from $3.00 to $5.50."

For an analyst ratings summary and ratings history on Intellicheck Inc. click here. For more ratings news on Intellicheck Inc. click here.

Shares of Intellicheck Inc. closed at $3.31 yesterday.

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