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Cinedigm (CIDM) Gets a Buy Rating from Benchmark Co.

In a report released today, Daniel Kurnos from Benchmark Co. maintained a Buy rating on Cinedigm (CIDMResearch Report), with a price target of $5.00. The company’s shares closed last Monday at $2.13, close to its 52-week high of $2.34.

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 12.5% and a 55.5% success rate. Kurnos covers the Technology sector, focusing on stocks such as Zillow Group Class A, Porch Group, and CarGurus.

Cinedigm has an analyst consensus of Moderate Buy, with a price target consensus of $4.25, which is a 93.2% upside from current levels. In a report issued on September 13, Alliance Global Partners also reiterated a Buy rating on the stock with a $3.50 price target.

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Based on Cinedigm’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $15.02 million and net profit of $5.19 million. In comparison, last year the company earned revenue of $6.02 million and had a GAAP net loss of $19.86 million.

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Cinedigm Corp. engages in the marketing and distribution of movie, television, and other short form content managing a library of distribution rights. It operates through the segments; Cinema Equipment Business, and Content and Entertainment Business (CEG). The Cinema Equipment Business segment consists of the non-recourse, financing vehicles, and administrators. The Content and Entertainment Business refers to ancillary market aggregation and distribution of entertainment content and, branded and over-the-top (OTT) digital network business providing entertainment channels and applications. The company was founded by A. Dale Mayo on March 31, 2000 and is headquartered in New York, NY.

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