SYTA - 247MN-(SYTA) Strengthens $7 Stock Price Target Case

2024-02-20 09:12:29 ET

DENVER, Colo., Feb 20, 2024 (www.247marketnews.com)- Siyata Mobile (NASDAQ: SYTA ) shares have been holding strong in the $3 range. The company has recently announced additional sales and distribution agreements which are positive indicators of what’s to come.

About Siyata Mobile: Emergency Equipment that Puts First Responders First

Siyata Mobile is a B2B global vendor of next generation Push-To-Talk (PTT) over Cellular devices, cellular booster systems, and video monitoring solutions.

Its portfolio of in-vehicle and rugged devices enable first responders and enterprise workers to instantly communicate, over a nationwide cellular network of choice, to increase situational awareness and save lives, while its enterprise grade and consumer cellular booster systems enable first responders and enterprise workers to amplify cellular signals in remote areas, inside structural buildings where signals are weak and within vehicles for the maximum cellular signal strength possible.

For its video monitoring system, Siyata integrates software that they license with off-the-shelf hardware providing its customers with an integrated advanced camera system for management and visual monitoring of their fleet vehicles.

The Structure

Siyata currently has an estimated 555,000 shares in the tradable float and slightly more shares outstanding.

The company has a market cap of $1.8 million.

How about the Analysts?

Goldman Small Cap stated, “Under this scenario, we maintain our split adjusted price target of $7.00 for SYTA stock, which is a decrease from prior targets due to the additional dilution from equity capital raises in 2023 and the potential for future equity issuances. $7.00 is also the liquidation value for the company as the tangible book value per share is approximately $7.70 as of the end of the 3rd quarter of 2023.”

This means that, even if the company fails, the value is significantly higher than today’s trading values.

Conversely, should Siyata successfully execute its game plan, its true valuation is much higher than today’ s price, and the current $7 price target.

We alerted (NASDAQ: SYTA ) multiple times from the $3 range and lower, giving our readers a few quick trades up to $5. A quick 60% move due to the volatility of the low float and recent reverse splits.

However, short-term gains don’t tell the story of Siyata’s value, as the company announced it could be cash flow positive by the middle of this year, strengthening the analysts’ bullish cases for the first responder solutions provider. Siyata made some internal changes in November to help facilitate upcoming orders after its previous equity raise underperformed.

Siyata CEO, Marc Seelenfreund, stated, “We plan to garner additional support from our carrier partners and bring what we believe are the most rugged, reliable first responder communications products in the world today. Our goal is to be boxed and stocked by all the carriers at some point, which should greatly increase our sales directly from the carriers and expand our agency and business-to-business sales.

“In addition, it will make it much easier for the launch of our upcoming SD7+ which is our all-in-one bodycam push to talk communicator to gain sales traction after its upcoming 2024 launch.

“Our success created some growing pains this year, as is often the case for companies undergoing rapid growth, and the company raised capital to help facilitate increasing upcoming orders. We currently pay for all of our inventory upfront, and our capital needs increased with these orders.

“Our number one goal is to be cashflow positive by mid-2024 and we will have created significant shareholder value along the way.”

Recent press indicates SYTA could be on the way.

Read the analyst report and more here , and SYTA disclosure here .

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