Lake Street Keeps Their Buy Rating on Red Violet (RDVT)

In a report released today, Eric Martinuzzi from Lake Street maintained a Buy rating on Red Violet, with a price target of $60.00. The company’s shares opened today at $53.60.

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Martinuzzi covers the Technology sector, focusing on stocks such as Par Technology, One Stop Systems, and Red Violet. According to TipRanks, Martinuzzi has an average return of 11.6% and a 49.17% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Red Violet with a $61.00 average price target, which is a 13.81% upside from current levels. In a report released on October 31, B. Riley Securities also maintained a Buy rating on the stock with a $62.00 price target.

Based on Red Violet’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $21.77 million and a net profit of $2.69 million. In comparison, last year the company earned a revenue of $19.06 million and had a net profit of $2.64 million