Mastech Digital announced the launch of the EDGE (Efficiency Driving Growth and Expansion) Program last November, which had already begun to drive efficiency gains and reduced SG&A expenses in 3Q:25 results. Our 4Q:25 EPS estimate of $0.15 implies a 33% decline year over year due to a challenging comparison and reduced client activity. We maintain our EPS estimates of $0.66 in 2025, $0.90 in 2026 and $1.01 in 2027. Our free cash flow per share (excluding the add back of stock-based compensation expense) estimates of $0.32 in 2025, $0.94 in 2026 and $1.04 in 2027 imply respective FCF yields of 4.6%, 13.5% and 15.0%. Our $15 price target is based on 10x our 2027 EPS estimate of $1.01 plus our year-end 2027 estimated net cash per share of $5.18. On a P/E-only basis, our price target is 14.9x our 2027 EPS estimate, nearly matching our five-year EPS CAGR of 15%. Free cash flow and the strong balance sheet support our multiple and moderate risk rating, in our view. Mastech Digital is scheduled to participate in the Sidoti March Virtual Investor Conference on March 18-19.