CYBE overvalued, but so are a lot of stocks in this market. Funny how they post Q3 earnings that were only about half of what they did in Q1 & Q2...stock was around $15 then, now people like it at $25. Doesn't make any sense.
The Q4 guidance is disappointing. On the prior CC, they made it sounds like Q4 would see a pickup from Q3. Instead it's sequentially flat. Backlog is down to $12.7M. Lowest it's been in several quarters. Backlog was higher earlier this year...when the stock was in the single digits.
Saving grace for CYBE was their first CyberGage order (strange they didn't issue a separate PR). Management is always bullish and they talk a good game. So that CyberGage excitement will probably keep a bid under the stock tomorrow.
I'm going to hold on but in no rush to add more. CYBE still faces some serious headwinds in 2017. They're going to face brutal comps starting in Q1. We'll see where the stock is trading when they start reporting revenue & earnings declines. My guess is back in the $15-$20 range, if not lower. Plus NOLs are almost exhausted, so they'll start paying taxes next year. Knock 35%+ off the bottom line. Going to make the earnings comps look even worse.
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