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Friday, May 15, 2020
QuoteMedia (QMCI)
Brushing Off Covid
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, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid Q1. First quarter results were largely in line with expectations in spite of Covid 19 that wrecked the economy and many businesses. Revenues increased 3.3%, in line with our expectations. Adj. EBITDA was lower, $191,000 versus our $414,000 estimate, largely due to investments into new products that are expected to be rolled out in
Management clearly was hoping for a better quarter. The company was impacted by Covid as some clients paused services and some even shuttered. Even though companies appear more cautious, Quotemedia appears to be benefiting from a shift toward work from…
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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
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