Net Element International (NASDAQ:NETE) shares are on the roller coaster since the start of this year, amid few critical changes in its management and other market reports. The company’s stock jumped more than 30% in yesterday trade on higher volumes. NETE stock currently trades around $9 a share, higher from a 52-week low of $2 a share it had hit in the final quarter of last year.
NETE stock has the 52-week trading range of $2.56 – $33.51 – with the market cap of $34 million. Despite the latest uptrend, its stock is down almost 35% since the start of this year, extending the five-year selloff to 97%.
Can Net Element International Stock Set for Sustainable Bull Run?
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Latest Financials For Net Element International
Better than expected results for fiscal 2017 also supported it’s most recent stock price rally. Net Element is a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment. The company reported fiscal 2017 revenue of $60 million, up 12% from revenue of $54 billion in the past year.
Net Element International has highlighted the improvement in all business areas. The company proceeded total transactions of $2.8 billion during 2017, representing a growth of 14% from 2016. The company generated 85% of revenue from the United States, and international markets accounted for 15% of revenues in 2017.
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It has also narrowed losses compared to previous year. Its fiscal 2017 loss stood around 5 per share, lower from a loss of 10 per share in 2016.
Future Business Plan and Analyst Rating
The company plans to work on the three key strategies to expand its revenue and earnings potential:
- Deliver stronger organic growth
- Develop additional payment network relationships to integrate with our technologies
- Seek acquisition or investment opportunities to deepen our technological and distribution capabilities
Analysts, however, don’t see substantial upside in its share price in the short-term. Net Element International stock is downgraded by ValuEngine to ‘Sell’ from a “Hold” rating. The firm blamed higher valuations and lower earnings potential for the downgrade.
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