Needham Reiterates Buy Rating on Blink Charging Co. (BLNK)

Needham analyst Chris Pierce reiterated a Buy rating and $7.00 price target on Blink Charging Co. (NASDAQ: BLNK) following Q4 earnings.

The analyst commented, "We reiterate our Buy rating and $7 price target on BLNK post 4Q earnings and company commentary. We see BLNK as well positioned to continue to beat and raise (4Q was BLNK's third consecutive revenue beat) on initial conservative revenue guidance in conjunction with BLNK's industry leading gross margin profile and further OPEX leverage on deck. BLNK reiterated guidance for positive adj EBITDA exiting 4Q24, and now aims to get there without any further dilution after leaning on their ATM facility in late '23/early '24, removing a potential equity offering as an overhang on the stock. Our $7 price target represents 15x our '24 adj EBITDA discounted back."

For an analyst ratings summary and ratings history on Blink Charging Co. click here. For more ratings news on Blink Charging Co. click here.

Shares of Blink Charging Co. closed at $3.43 yesterday.

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