Analyst Dimple Gosai of Bank of America Securities reiterated a Buy rating on Fluence Energy (FLNC – Research Report), retaining the price target of $20.00.
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Dimple Gosai’s rating is based on several strategic considerations. Despite Fluence Energy’s significant revenue miss and lowered guidance, the company retains a Buy rating because the current stock price presents a potentially attractive investment opportunity. The stock price has decreased substantially, over 35% in after-hours trading, which suggests a possible undervaluation relative to the future growth potential.
Furthermore, the lowered guidance was attributed to the timing of contract signings, particularly in Australia, which might be resolved later in the year. The analyst anticipates gaining more insights into the company’s strategic direction and market position during the upcoming earnings call. As a result, there is optimism about a rebound in revenue and profitability as the company navigates its short-term challenges.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FLNC in relation to earlier this year.