WidePoint’s Promising Growth Prospects: Buy Rating Backed by Strong Contracts and Revenue Potential
Scott Buck from H.C. Wainwright maintains a Buy rating on WidePoint with a $9.00 price target, citing strong contracts and revenue potential. Key contracts include a $40-45 million SaaS deal and a $27.5 million task order from U.S. Customs & Border Protection. WidePoint is also positioned to win a $3 billion CWMS 3.0 contract. The company's strong backlog and potential in device-as-a-service indicate future revenue growth. With $12.2 million in cash, WidePoint may pursue mergers and acquisitions, supporting the Buy rating.
Scott Buck, an analyst from H.C. Wainwright, maintained the Buy rating on Widepoint. The associated price target remains the same with $9.00.
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Scott Buck has given his Buy rating due to a combination of factors including WidePoint’s recent contract awards and a promising sales pipeline. The company has secured significant contracts such as a $40-45 million SaaS contract and a $27.5 million task order from U.S. Customs & Border Protection, which are expected to boost revenue in 2026. Additionally, WidePoint is well-positioned to win a $3 billion, ten-year CWMS 3.0 contract, potentially serving as a major catalyst for revenue growth.
Furthermore, the company’s strong contracted backlog and potential in the device-as-a-service business indicate accelerating revenue growth and improved margins in the future. With a current cash balance of $12.2 million, WidePoint may also pursue growth through mergers and acquisitions. These factors, combined with the expectation of positive EPS and improved financial performance, support the Buy rating and a price target of $9.00.
Buck covers the Technology sector, focusing on stocks such as Lightpath Technologies, Veritone, and Mogo Finance Technology. According to TipRanks, Buck has an average return of 0.0% and a 31.38% success rate on recommended stocks.
