Net Element's (NASDAQ:NETE) North American Business Up 40 Percent in First Quarter
(NetworkNewsWire) Currently trading at 65 cents a share, Zach's Small Cap Research just pegged Net Element (Growth, the elixir of Wall Street, is no stranger to Net Element. Just last year, the company was recognized by the South Florida Business Journal as one of the fastest growing technology companies in the United States, and, in 2012, the company's Unified Payments division was named the fastest-growing private company in America by Inc. Magazine. To become an industry leader, investing, opening and expanding into new markets is imperative to sustain growth trajectories over time.
A technology-driven mobile payments and transactional services company, Net Element's products and services include mobile payments, value-added services, marketing solutions and business analytics. Through its wholly owned group of companies, Net Element's global divisions support electronic payments acceptance in an omni-channel environment spanning across point-of-sale, e-commerce and mobile devices. The company provides turn-key services, including the technology and services required for cashless transactions, to small and medium-sized businesses throughout the United States and in select international markets.
Known for its dynamic marketing efforts, Net Element's North American Unified Payments division continued its strong growth in Q1 2017 as the company added a record 1,500 merchants to its customer base. The company is aggressively adding new North American customers, and rapid customer acquisition is continuing into Q2.
Net Element's international game plan is to spur global growth where it already has a substantial footprint by leveraging its omni-channel platform to deliver flexible offerings to select emerging markets with diverse banking, regulatory and demographic conditions, such as the UAE, Kazakhstan, Kyrgyzstan and Azerbaijan. Net Element has already launched initiatives is these locations.
Given Net Element's historic track record of phenomenal domestic growth, there's no reason to doubt the company's ability to grow internationally. Once Net Element kicks revenue in its international markets into high gear, profitability should be around the corner and Zach's target of $3.12 per share should easily be in reach.
For more information, visit www.NetElement.com
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