Digital Ally (DGLY, Financial) reported first-quarter revenue of $4.4 million, a decline from $5.5 million in the same period last year. Despite this decrease in revenue, the company achieved a significant $2,664,354 improvement in operating income compared to the previous year. This turnaround was driven by reduced overhead and headcount, alongside a strategic focus on their subscription-based video solutions segment and restructuring of their law enforcement product sales.
The company, led by CEO Stanton E. Ross, highlighted improved gross profit margins and a reduced ratio of selling, general, and administrative (SG&A) expenses as key factors in their financial performance. These improvements come amid ongoing economic challenges that have impacted the budgets of state, county, and municipal governments, which are the primary customers for Digital Ally’s law enforcement products.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Digital Ally Inc (DGLY, Financial) is $11.00 with a high estimate of $11.00 and a low estimate of $11.00. The average target implies an upside of 30,455.56% from the current price of $0.04. More detailed estimate data can be found on the Digital Ally Inc (DGLY) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Digital Ally Inc's (DGLY, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Digital Ally Inc (DGLY, Financial) in one year is $25.65, suggesting a upside of 71150% from the current price of $0.036. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Digital Ally Inc (DGLY) Summary page.
