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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why This Analyst Thinks That Glimpse Group Did A Nice Job

Brightline (Organization) EF Hutton Nasdaq
  • EF Hutton analyst Ben Piggott had a chance to catch up with The Glimpse Group, Inc (NASDAQ:VRAR) management following its recent announcement of two significant acquisitions: Brightline and PulpoAR. 
  • Piggott continues to believe that the company is doing an excellent job of methodically building its platform without making a disproportionate bet on any technology while maintaining a conservative balance sheet. 
  • Piggott adjusted estimates to incorporate these transactions and slightly reduced the price target to $12 from $14 to consider the broader multiple compression across the technology industry.
  • Price Action: VRAR shares traded lower by 7.75% at $3.57 on the last check Monday.
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