- NETE sales are projected to reach $65 million in 2018, an eight percent jump, per Zacks Small-Cap Research; Zacks cites 10.6 percent sales increase in 2017 to $60.1 million, sees growth in 2019 to $70.8 million
- SeeThruEquity, LLC analysis reported that NETE’s North America Transactions Solutions business segment grew by 21.3 percent YOY in 2017
- Zacks notes that NETE launched Fast Pass Funding, a same-day funding service through its proprietary next generation Netevia multi-channel payments processing platform
Net Element, Inc. (NASDAQ: NETE) has received an upgrade of its stock rating to ‘Buy’ from ValuEngine, a stock valuation and forecasting service (http://ibn.fm/uA2wb). A Zacks Small-Cap Research report projects that NETE sales will reach $65 million in 2018, then $70.8 million by 2019 (http://ibn.fm/9rtQT).
A SeeThruEquity update found that the company’s balance sheet in full year 2017 was “significantly improved.” It reported that the $7.55 million raised during 4Q2017 was characterized by management as a “growth fund” to support NETE’s organic growth programs and its new blockchain initiatives (http://ibn.fm/livgP).
NETE is a global financial technology and value-added solutions group that accepts electronic payments in an omni-channel environment that spans across point-of-sale terminals, e-commerce and mobile devices. It has launched Fast Pass Funding, a same-day funding service, through Netevia, its next generation payments platform. Fast Pass Funding enables merchants to receive funding in as little as three hours on business days, NETE said.
The company’s 21.3 percent growth in its North America Transaction Solutions segment, reaching $51.1 million in revenues in 2017, was driven by organic sales to small and medium-sized business merchants and value-added offerings, SeeThruEquity added.
The report said that NETE is integrating new technology into Netevia to make it a decentralized blockchain technology solution. “Blockchain and cryptocurrency should be a natural extension of the company’s strategy,” SeeThruEquity reported. NETE “may be positioned” to capture share from other payment processing vendors with the disruptive impact of cryptocurrency, it said.
For more information, visit the company’s website at www.NetElement.com
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