B. Riley & Co. Reiterates Buy Rating of Sysorex Global

NEW YORK, NY / ACCESSWIRE / March 9, 2016 / Market Exclusive announces that B. Riley & Co. has reiterated a Buy rating for Sysorex Global (NASDAQ: SYRX) with a 12-month price target of $2.50 per share.

B. Riley & Co. analysts Josh Nichols, CFA and Mike Crawford highlighted the value of Sysorex’s transition from a Value-added Reseller (VAR) of storage and computing products and services to a provider of high-margin big data analytics, SaaS, and professional services with proprietary products and technologies that help data-driven enterprises improve decision-making and productivity. Nichols and Crawford note, “The company’s near $50MM/yr VAR business provides 700+ enterprise relationships and a revenue foundation, where we believe SYRX can apply its unique blend of proprietary technology to build out high-margin growth businesses in 2016 and generate positive EBITDA and FCF by early 2017.”

Sysorex’s upcoming launch of LightMiner, a big data analytics system using the assets acquired in April 2015, as well as the recent launch of AirPatrol for Healthcare, a unified Real Time Location System (uRTLS) that incorporates multiple equipment tracking technologies into a single platform, were contributing factors for B. Riley’s reiterated Buy rating.

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SOURCE: Market Exclusive

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