Byrna Technologies Inc. (NASDAQ:BYRN) Analysts Adjust Price Targets Ahead of Earnings Report
- The average price target for Byrna Technologies Inc. (NASDAQ:BYRN) has been adjusted to $12 by Raymond James, indicating a more conservative outlook from analysts.
- Despite a decrease in the average price target over the past year, Byrna's share price surged by 38.1% in the last trading session, suggesting investor optimism.
- Byrna announced record preliminary financial results for the third quarter of 2024, with a 194% increase in revenues, highlighting strong market demand and effective business strategies.
Byrna Technologies Inc. (NASDAQ:BYRN) is a company that focuses on less-lethal defense technology, offering a variety of personal security devices. Over the past year, the consensus price target for Byrna's stock has fluctuated, reflecting changes in analysts' expectations and market conditions. The company is set to announce its third-quarter earnings results soon, which has led to adjustments in price expectations by analysts.
Last month, the average price target for Byrna Technologies was $16.25, indicating a more conservative outlook from analysts compared to previous periods. This is in contrast to the new price target set by Raymond James at $12, as highlighted by Raymond James. This suggests a reassessment of Byrna's market value ahead of its earnings report, where analysts speculate the company may not meet earnings expectations.
Three months ago, the average price target was higher at $18.42, showing that analysts were more optimistic about Byrna's prospects at that time. Despite this, Byrna's share price recently surged by 38.1% in the last trading session, supported by above-average trading volume. This indicates heightened investor interest and potential for continued strength in the stock's performance, as noted by Raymond James.
A year ago, the average price target was slightly higher at $18.45, reflecting a relatively stable long-term outlook from analysts. However, Byrna has announced record preliminary financial results for the third quarter of 2024, with a remarkable 194% increase in revenues compared to the previous year. This strong revenue growth suggests robust market demand and effective business strategies, which could influence future price targets.
The decrease in the average price target over the past year could be attributed to various factors, such as changes in market conditions, company performance, or broader economic trends. Despite the current price target of $12 set by Raymond James, Byrna's innovative product offerings and expanding market presence are highlighted as key drivers for future growth. Investors may want to consider these factors and any recent company news or earnings reports when evaluating Byrna Technologies as a potential investment.
| Symbol | Price | %chg |
|---|---|---|
| RTX.BA | 29775 | 2.52 |
| LMT.BA | 27450 | 2.28 |
| 329180.KS | 413000 | -2.06 |
| 012450.KS | 878000 | -0.57 |
Byrna Technologies Inc. (NASDAQ:BYRN) Surpasses Earnings Expectations with Strong Financial Performance
- Byrna Technologies Inc. (NASDAQ:BYRN) reported earnings per share of $0.06, significantly beating the estimated $0.02.
- The company's revenue reached approximately $26.19 million, a 57% year-over-year growth, driven by new retail channels and expanded U.S. manufacturing capabilities.
- Byrna maintains a strong financial position with a debt-to-equity ratio of approximately 0.045 and a current ratio of about 3.99, indicating low debt levels and high liquidity.
Byrna Technologies Inc. (NASDAQ:BYRN) is a company known for its non-lethal personal security devices. It has been gaining attention for its innovative products and expanding market presence. The company competes with other security device manufacturers, but its focus on non-lethal solutions sets it apart. Byrna's recent financial performance highlights its growth trajectory and strategic advancements.
On April 10, 2025, Byrna reported earnings per share of $0.06, surpassing the estimated $0.02. This marks a significant improvement from the $0.04 per share reported in the same quarter last year. The company's ability to exceed expectations reflects its strong operational performance and strategic initiatives, as discussed during its Q1 2025 earnings conference call.
Revenue for the first quarter of 2025 reached approximately $26.19 million, exceeding the estimated $25.55 million. This represents a 57% year-over-year growth, driven by new retail channels and expanded U.S. manufacturing capabilities. Byrna's strategic focus on these areas has contributed to its impressive revenue growth, as highlighted by the company's leadership during the earnings call.
Byrna maintains a strong financial position, with a debt-to-equity ratio of approximately 0.045, indicating low debt levels relative to its equity. This conservative approach to debt management provides the company with financial stability. Additionally, Byrna's current ratio of about 3.99 suggests it has ample current assets to cover its current liabilities, ensuring liquidity and operational flexibility.
The earnings call, attended by analysts such as Jeff Van Sinderen from B. Riley Securities and Jon Hickman from Ladenburg Thalman, provided valuable insights into Byrna's financial performance and strategic direction. The company's leadership, including CEO Bryan Ganz and CFO Lauri Kearnes, emphasized the importance of these results in positioning Byrna for continued growth and success in the non-lethal security market.
