Net Element, Inc. (NASDAQ:NETE) on Pace to Record Revenues of $75 Million by 2018, per Zacks Research Report
New York, New York, 08:30 EDT June 20, 2017 (NetworkNewsWire) – Net Element, Inc. (
NASDAQ:NETE) is seen reaching revenues of $75 million in 2018 by a Zacks Research Report issued in May 2017 (http://nnw.fm/wV8IN). In the Zacks Small-Cap Research Report, it is estimated that the company’s sales will reach $63 million in 2017 and $74.6 million in 2018. Net Element reported actual revenues of $54.3 million in 2016.
Net Element is a high technology financial group that digitally processes transactions in an omni-channel environment in what is becoming a world of cashless transactions. It processes the electronic transactions from both point-of-sale and mobile devices.
Driving this forecast revenue growth is a continuation of the increases from Net Element's North American Transaction Group. It is seen by Zacks as delivering 41% and 20% year-over-year growth in 2017 and 2018, respectively, for a total of $64.2 million in sales in 2018. By far, it remains as the single biggest contributor of the three components in the Net Element company. The other two are mobile payments and PayOnline.
Zacks has an investment thesis that incorporates the belief that New Element is a growth company in the payments industry that should benefit from mobile and online payments from the U.S., Russia and the Middle East. Eventually, Zacks’ research said, these payments are expected to achieve a global reach. The other thesis by the research company is that Net Element’s Aptito line provides differentiation and value-added services to its generic card processing business.
By sacrificing short-term profits and placing its focus on long-term growth, the company is creating a “long tail, future profitability and higher margins,” the report said. “As long as public markets are willing to fund the company through equity, this strategy may play out in future years.”
Zacks added that NETE’s PayOnline is being certified in the U.S. in the near-term future. The company’s Unified Payments would then be able to implement the platform. By not using third party payments at that time, NETE could then save costs and increase its margins. Net Element believes that as many as 15% of its Unified Payments transactions would be impacted positively, per the report.
For more information, refer to www.NetElement.com
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