Daktronics, Inc. (NASDAQ: DAKT) posted its financial report for the third quarter of the fiscal year 2021. The company improved profitability, and its backlog was substantial. DAKT stock has seen a year-to-date increase of 26.50% on its value. Its 52-week range has been from $3.69 to $6.09. Yesterday’s trading session saw the DAKT stock hover around $5.92. It is now 1.54% off its average median price target of $7.00 for the next 12 months.
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Daktronics ended the quarter with net sales of $ 94.1 million, and loss of $ 0.2 million, and no earnings per share. Last year, this figure was $ 127.7 million. That represented a net loss of $ 12.7 million, or $ 0.28 per share.
A leader in large electronic displays like billboards, electronic signage, animated videos, and video rendering for public events, Daktronics manufactures digital displays for various uses.
COVID-19 crises in 2020 affected orders and caused Daktronics’ revenue to decline in all segments. However, it is estimated that sales will recover, as evidenced by the order book, which has grown to approximately $ 195 million, compared to approximately $ 187 million a year earlier.
The COVID-19 uncertainty persists, so Daktronics has not given any short-term forecasts. Daktronics sees mass vaccination as an opportunity and is optimistic about the company’s long-term prospects.
Digital transformation of the economy is enabled with digital technologies such as Daktronics Inc. (DAKT) live streaming and new advertising visualization.