Needham analyst Vikram Bagri initiated coverage of Beam Global with a Hold rating. The analyst states that strong revenue growth looks likely given the company’s pipeline and backlog and its CEO’s confidence, while also noting that its margins are trending in the right direction. Needham adds however that investors are awaiting a sign that Beam Global can fully scale into its growth opportunity before assigning a higher multiple. The firm contends that Beam needs to show a path to EV ARC margin improvement in FY23, after proving in FY22 that it can sell EV ARCs at high growth rates.
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Published first on TheFly
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Read More on BEEM:
- Beam Global reports Q4 EPS (77c), consensus (41c)
- Beam Global Reports Fourth Quarter and Full Year 2022 Financial Results
- Beam Global (BEEM) Q4 Earnings Cheat Sheet
- Beam Global secures $100M credit facility
- Beam Global Schedules Fiscal 2022 Year-End Financial Results Conference Call for March 29, 2023 at 4:30 p.m. ET
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