DA Davidson upgrades Intellicheck with growth acceleration ‘now in sight’

DA Davidson upgraded Intellicheck (IDN) to Buy from Neutral with a price target of $5.50, up from $3, after the company announced a new contract expansion with a Southeast regional bank with a low seven-figure initial annual contract value and a “very high” seven-figure total contract value over three years. The additional contracted revenue is expected to begin flowing in Q3, notes the analyst, who is raising calendar year 2025 and 2026 growth estimates by 2 points and 6 points, respectively, following the contract announcement.

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