SURGW - SurgePays: This Top-Rated Stock Is Worth Your Attention
2024-02-05 20:26:03 ET
Summary
- SurgePays reported its highest-ever net income of $7.1 million and EBITDA of $7.5 million in Q3 2023.
- While Q3 2023 revenue slightly decreased, the company achieved a substantial increase in gross profit, reaching $10.5 million.
- SurgePays is well-positioned to expand its footprint and further penetrate owner-operated convenience stores nationwide.
- My fair value calculations indicate a growth potential ranging from 36% to 70% by year-end, a substantial upside that underscores my confidence in SurgePays.
- All the positive factors surrounding SURG lead me to assign it a 'Buy' rating today.
The Company
Headquartered in Bartlett, Tennessee, SurgePays, Inc. ( SURG ) is a $107 million market cap tech and telecom company offering mobile broadband services. Utilizing a grassroots-level approach, the company specializes in delivering financial and telecom products to underbanked populations through convenience stores. SurgePays operates a technology platform that empowers clerks in thousands of convenience stores to offer prepaid wireless and financial products to lower-income and underbanked consumers. This aligns with the company's goal of converting these stores into tech hubs for underserved communities....
SurgePays: This Top-Rated Stock Is Worth Your Attention