BALTIMORE, MD / ACCESSWIRE / March 10, 2020 / Goldman Small Cap Research, a stock market research firm specializing in the small-cap and microcap sectors, announced today that it has released a new research report on Surge Holdings, Inc. (SURG). Surge Holdings serves the overlooked, unbanked, underbanked and credit-challenged, through key verticals and offerings including wireless telecom service and financial payment services via its SurgePays™ Marketplace Network. This report carries a rating and a price target. To view the new research update, along with disclosures and disclaimers, or to download all of our Surge Holdings reports and updates in their entirety, please visit http://www.goldmanresearch.com.
In the Opportunity Research company report, analyst Rob Goldman discusses the impact of the Company’s latest blockbuster acquisition, Surge’s innovative model, and why he raised his financial forecasts and price target.
Goldman noted, “Surge Holdings, already a leading prepaid wireless provider, is poised to emerge as a major fintech and c-store product sales channel provider in 2020 and beyond. The Company is generating outsized revenue growth and market share in large, underserved markets.”
“Led by major top-line growth from the ECS acquisition and with meaningful store deployment inflection points around the corner, we have raised our forecasts and price target. These new estimates call for revenue to leap from $29.1M in 2019 to $109.3M in 2020 and $237.8M in 2021, with EPS reaching $0.03 in 2020 and $0.23 in 2021.” commented Goldman.
Goldman concluded, “We believe that Surge is on its way to executing new and recurring cross-sales via ECS and broadly deploying its flagship fintech offering in tens of thousands of stores. Separately, additional, potential valuation catalysts lie ahead. A major fintech/supply chain peer trades 31x next year’s EPS, indicating the current valuation has a lot of room to move higher. Management plans to up-list SURG to NASDAQ which would also serve as a valuation catalyst.”
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