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Hear What Analysts At CNN Business Are Saying About Sound Tech Developer WiSA

EQS-News: WiSA Technologies Hear What Analysts At CNN Business Are Saying About Sound Tech Developer WiSA 22.09.2022 / 14:56 CET/CEST The issuer is solely responsible for the content of this announcement. The second quarter of 2022 may have been good for WiSA Technologies Inc. (NASDAQ: WISA). Revenue for the developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems increased by 67% from the first quarter of 2021.

The company also reported revenue growth from $600,000 in the first quarter of this year to $900,000 in the second quarter, and the company expects this growth to continue even into the first quarter of next year, according to CEO Brett Moyer.

“As anticipated, Q2 2022 revenue rebounded 67% from Q1 2022, and we expect an additional sequential revenue boost in Q3 2022,” Moyer said. “While it is difficult to predict end-market consumer spending in the all-important fall season, we expect sequential revenue growth for the remainder of 2022.”

CNN Reports Positive Outlook For WiSA

WiSA is looking to tap into the home theater industry— an industry projected to grow from $22.7 billion in 2021 to $27.24 billion in 2022 with further growth to reach $54.78 billion in 2026, according to a report by ReportLinker. This growth is likely due to the booming video streaming market which experienced an exponential increase in demand due to the pandemic.

CNN Business’s analysis of WiSA stock predicts it will reach a median price of $4.50 and a high price of $5.50 in the next 12 months. The median price forecast would be an increase of over 600% through the forecast period.

The analysis also predicts that third-quarter sales will reach between $1.2 million and $1.6 million, and sales for 2023 are expected to be between $10.5 million and $15 million. While the company’s earnings per share (EPS) for the third quarter this year is forecast at negative 22 cents, analysts at CNN Business remain optimistic - the consensus among three investment analysts polled by CNN Business is to buy the stock.