Friday, December 22, 2017 3:36:35 AM
This Bull Now Expects BIO-key International, Inc. (BKYI) Will Beat Out 4Q Expectations Following Massive License Follow-On Order
Maxim's Brian Kinstlinger notes that for an existing Fortune 500 customer to follow-on with a $4 million order, this bodes positively for BKYI's customer satisfaction.
BIO-key International, Inc. (NASDAQ:BKYI) just scored a whopping $4 million follow-on order for its fingerprint biometric security software, sending the Street dashing to buy into a slice of the latest tech market buzz. In turn, investors must be delighted today, with shares currently skyrocketing 32%.
On the heels of the monster license secured for the software maker’s enterprise fingerprint biometric authentication platform, which includes both maintenance as well as services, Maxim analyst Brian Kinstlinger notes that considering this order came from “an existing Fortune 500 customer,” to him, this points to a great sign: “a high level of customer satisfaction.” Considering the Fortune 500 customer had already been using the company’s enterprise software, there must be a great level of satisfaction there for such a “sizable” follow-on order to come into play.
Therefore, the analyst reiterates a Buy rating on BKYI stock with a $5.50 price target, which implies a 134% upside from current levels. (To watch Kinstlinger’s track record, click here)
Considering the tech player anticipates achieving $2.5 million in license revenue during its fourth quarter of this year, to this bull, the writing on the wall glows with potential upside to his expectations. With the “large follow-on order” now in the picture, the analyst finds his fourth quarter revenue projection of $2.8 million now comes across as “conservative.”
“The balance of the license revenue is expected to be recorded over the next three years. Note that the company’s biometric padlocks began selling on Amazon.com […] However, we believe a solid marketing campaign will be necessary to build brand awareness and drive even stronger revenue in 2018,” continues the analyst.
Kinstlinger contends, “We believe the company is positioned for more consistent and meaningful revenue in 2018. We believe the biometric padlock creates innovation in a product that has not changed in decades. While the company missed the cutoff for getting into large box retailers for the holiday season, several locks are beginning to sell online through its direct site as well as on Amazon.com,” looking ahead to Spring of 2018 where the BKYI team anticipates Touch Locks will be in stores.
On a final bullish note, the analyst commends the software maker’s strides in building partnerships for its biometric bicycle lock, wagering that in addition to three lock offerings: “We also believe BKYI’s special lock being built for TSA could drive significant revenue in 2018.”
Recent BKYI News
- BIO-key International, Inc. Receives Notice of Non-Compliance from Nasdaq • GlobeNewswire Inc. • 04/22/2024 08:30:00 PM
- Switzerland’s Canton of Ticino Implements BIO-key’s Multi-Factor Authentication Solution in its Information Systems Center • GlobeNewswire Inc. • 04/09/2024 01:15:00 PM
- Identity and Access Management Software Provider BIO-key Preliminary 2023 Results: Operating Loss Trimmed Approx. $3.5M on Approx. 29% Revenue Growth to $9.1M; Investor Call Tomorrow at 10am ET • GlobeNewswire Inc. • 04/01/2024 08:45:00 PM
- Identity and Access Management/Cybersecurity Solutions Provider BIO-key International Hosts Q4 Investor Call Tues., Apr. 2nd at 10am ET • GlobeNewswire Inc. • 03/27/2024 01:30:00 PM
- Humanity International Investments Hits Major Milestones in Digital Identity with the Humanity Protocol Initiative in Partnership with BIO-key International • GlobeNewswire Inc. • 03/12/2024 06:17:46 PM
- BIO-key Receives $1.5M Pre-Paid, Two-Year Software Subscription Order for its Biometric Identification Platform • GlobeNewswire Inc. • 02/20/2024 01:59:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 02/16/2024 10:02:13 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 08:30:35 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 01:04:15 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/13/2024 05:15:36 AM
- Bridgetown, Barbados Credit Union Selects BIO-key’s PortalGuard to Enhance Access to Shared Workstations Including Biometrics • GlobeNewswire Inc. • 02/06/2024 01:59:00 PM
- Form S-1 - General form for registration of securities under the Securities Act of 1933 • Edgar (US Regulatory) • 01/30/2024 10:31:29 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/25/2024 09:01:47 PM
- Tragsa Group Enhances Cybersecurity with BIO-key’s Multi-Factor Authentication Solution • GlobeNewswire Inc. • 01/22/2024 10:15:00 AM
- Haver & Boecker Implements Single Sign-On (SSO) with Multifactor Authentication via P&W Netzwerk and BIO-key Europe to Secure and Streamline User Access • GlobeNewswire Inc. • 01/17/2024 09:59:00 AM
- NJ-based Authentication Solutions Provider BIO-key to Review Growth Strategy and Progress at The Microcap Conf. in Atlantic City – Presentation Wed., Jan 31 at 10:50am ET • GlobeNewswire Inc. • 01/16/2024 01:59:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/11/2024 04:54:32 PM
- Fargo, ND and Junction City, KS Choose BIO-key PortalGuard For Secure Access via Biometric Authentication • GlobeNewswire Inc. • 01/11/2024 12:58:00 PM
- BIO-key PortalGuard Wins 2024 Business Intelligence Group’s BIG Innovation Award for its Authentication Software • GlobeNewswire Inc. • 01/10/2024 02:01:00 PM
- Denmark’s Ministry of Foreign Affairs Bolsters Network Security via IT2Trust and BIO-key® • GlobeNewswire Inc. • 01/08/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 10:28:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 10:20:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 10:14:48 PM
- Portugal’s Judiciary Police Enhances Security Infrastructure via Securnet and BIO-key • GlobeNewswire Inc. • 01/02/2024 10:01:00 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM