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Investing.com - Chardan Capital Markets initiated coverage on Urgent.ly (NASDAQ:ULY) with a Buy rating and a price target of $15.00 on Tuesday. The stock, currently trading at $6.80, has shown strong momentum with a 42.5% gain over the past week.
The research firm highlighted Urgent.ly’s custom-built platform that manages roadside assistance for motorists, serving automotive OEMs, fleet owners, insurance companies, and ride-hailing services that outsource roadside assistance provision.
Chardan Capital Markets noted that Urgent.ly’s software platform combines location-based services, real-time data, AI, and machine-to-machine communication to deliver its services.
The platform’s technology matches service providers in the area with customer needs to minimize response time and maximize service effectiveness.
The $15 price target represents Chardan’s valuation assessment of the roadside assistance technology company as it continues to develop its AI-powered service platform.
In other recent news, Urgent.ly Inc. has announced the appointment of Michael Port as its new Chief Financial Officer, effective June 6, 2025. Port, who previously served as the company’s Senior Vice President of Finance, will take over from Timothy C. Huffmyer, who is leaving to pursue new opportunities. Port brings a wealth of financial leadership experience, having held roles such as Vice President of Finance and Controller at Lordstown Motors (OTC:NRDE) Corp. and Chief Financial Officer of Energy Focus (NASDAQ:EFOI) Inc. His extensive background also includes providing consulting services to Nu Ride, Inc. and supporting various companies through his own firm, MHPort Consulting LLC. Urgent.ly’s CEO, Matt Booth, expressed confidence in Port’s ability to support the company’s growth phase, highlighting his experience in the automotive and other high-growth industries. This leadership change comes as Urgent.ly is experiencing significant growth and is focused on enhancing its mobility assistance services. The company partners with brands in automotive, insurance, and telematics sectors to offer connected roadside assistance services globally.
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