FNJN...$3.15...red to green...
Finjan +11.9%; B. Riley weighs positives of Symantec settlement
Mar. 2, 2018 12:51 PM ET|About: Finjan Holdings, Inc. (FNJN)|By: Jason Aycock, SA News Editor
Finjan Holdings (NASDAQ:FNJN) is up 11.9% today, following up on postmarket gains after the company struck an agreement settling disputes with Symantec.
Considering the payments to Finjan involved, it should set up the company to exit the quarter with nearly $80M in cash and no offsetting preferred litigation financing -- and it means that the company should already be past a projected $40M in Q1 revenue, says B. Riley/FBR in an update note.
"Additionally, FNJN now marches forward not only with a filled war chest and recent high water line for licensing" but also a validity ruling in a Blue Coat case that should put other companies that are in license discussions on notice, says analyst Mike Crawford.
He has a $5 price target, implying 43% further upside beyond today's gains so far.
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