NV5 Global Inc (NASDAQ: NVEE), a provider of technology, conformity assessment and consulting solutions, said this week it had secured $13 million in contracts to support the expansion of data center assets for technology and financial companies in Asia and the United States.
”NV5’s data center mission critical services continue to drive organic growth internationally and domestically, and we have recently expanded our operations into new markets in Japan and Taiwan,” Dickerson Wright, Executive Chairman of NV5, said in a press release.
”We are pleased to have recently introduced our technology offerings and installation management with our existing engineering and commissioning capabilities in the high-growth data center market.”
Stock Performance
The shares of NV5 Global Inc (NVEE) closed 1.37% ($1.32) lower at $94.83 on Nasdaq on Friday, as they extended the loss from the previous market session.
The company’s total market cap now stands at $1.509 billion.
The shares of NV5 Global Inc (NVEE) went down 16.02% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have retreated 14.66% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 3 out of 5 surveyed investment analysts had rated NV5 Global’s stock as “Buy”, while 2 – as “Hold”. The median price target on the stock stands at $127.00, which translates into a 33.92% upside compared to the closing price on Friday.
The high point of the analyst forecast range stands at $165.00.
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