Ascendiant Sticks to Its Buy Rating for SurgePays (SURG)

In a report released on December 21, Edward Woo from Ascendiant maintained a Buy rating on SurgePays, with a price target of $9.75.

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According to TipRanks, Woo is an analyst with an average return of -14.0% and a 29.86% success rate. Woo covers the Healthcare sector, focusing on stocks such as Plus Therapeutics, AIM ImmunoTech, and PAVmed.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SurgePays with a $9.75 average price target.

Based on SurgePays’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $18.68 million and a GAAP net loss of $7.49 million. In comparison, last year the company earned a revenue of $4.77 million and had a GAAP net loss of $14.28 million

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SURG in relation to earlier this year. Earlier this month, David Allen May, a Director at SURG bought 38,422.00 shares for a total of $61,390.98.