Maxim Group initiates coverage on Nxt-ID, Inc. (NASDAQ: NXTD) with a Buy rating and a price target of $4.25.
The analyst believes the company's Smartcard technology has been validated following a large purchase order from WorldVentures. Furthermore the analyst believes the company pipeline is solid and expects the acquisition of Fit Pay will enhance NXTD's expertise in secured payment tech as well as mobile payments for wearables.
About the Maxim Group
Maxim Group is a financial services firm that provides investment banking, asset management, research, and sales & trading to a diverse range of corporate clients, institutional investors and high net worth individuals.
The firm’s research division uses fundamental research and a “bottom up” approach to making investment recommendations. Maxim’s research analysts focus on under-covered, small- to mid-cap names in a variety of sectors including healthcare, technology, retail and others.
About Nxt-ID, Inc. (NXTD)
NXT-ID, Inc. (NXTD) is a security technology Company providing security for finance, assets, and healthcare. The Company's innovative MobileBio® solution mitigates risks associated with mobile computing, m-commerce, and smart OS-enabled devices. With extensive experience in biometric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, the Company partners with industry leading companies to provide solutions for modern payment and the Internet of Things ('IoT') applications. The Company's wholly owned subsidiary, LogicMark, LLC, manufactures and distributes non-monitored and monitored personal emergency response systems ('PERS') sold through the United States Department of Veterans Affairs ('VA'), healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors. http://www.nxt-id.com.
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