Byrna Technologies Inc. (BYRN) stock surged 5.36% in the pre-market session on Monday, driven by the company's strong fiscal year 2024 earnings results and optimistic outlook. The non-lethal weapons producer reported a significant revenue increase of 101% year-over-year to $85.8 million, along with a net income of $12.8 million, marking a remarkable turnaround from the previous year's net loss.
The company's impressive financial performance, with a 15% profit margin and earnings per share (EPS) of $0.57, surpassed analyst expectations by a substantial 129%. Byrna's success was primarily fueled by robust sales in the United States, which contributed 92% of its total revenue.
Analysts have responded positively to the company's strong results and growth prospects. B. Riley raised its price target on BYRN to $38 from $27, maintaining a Buy rating. Roth MKM also reiterated its Buy rating with a $33 price target, underscoring the bullish sentiment surrounding the stock.
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