WidePoint’s Promising Growth Prospects: Buy Rating Backed by Strong Contracts and Revenue Potential
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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.
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