Movers and SHAKERS
Improving Revenue Picture; Raising Price Target
QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions. Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors. The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research. Information can customized and provided to multiple platforms including terminals and mobile devices.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Positive revenue upturn. Q3 revenue growth reflected an acceleration from Q2, 6.0% versus 1.5%, an indication that the company's investments into new products are paying dividends. Revenues were better than our estimate, $3.14 million versus $3.04 million. Cash flow, as measured by adjusted EBITDA, was $271,000, better than our $222,000 estimate.
Gross margins took a tumble. Gross margins were 45.7% reflecting a shift in revenue mix toward lower margins. We expect that gross margins should improve somewhat in Q4 as the revenue mix shifts more favorably toward its Corporate Quotestream and Interactive products ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.