Near Intelligence Inc. Sees Strong Rally Following Analyst Coverage

by webmaster
Willing to try automated trading?
See the best forex robots rating to make the right choice.
Explore the list here >

Stock jumps 43% as Benchmark issues speculative buy rating

Near Intelligence Inc. (NIR) experienced a significant boost in its stock price on Friday, surging by 43% after investment firm Benchmark initiated coverage of the company. Analyst Mark Zgutowicz, in recommending a speculative buy rating for NIR, emphasized that the stock is currently undervalued.

Unleashing the Power of Consumer Behavior Insights

As a renowned software company specializing in consumer behavior analysis, Near Intelligence aids businesses in gaining a comprehensive understanding of their target audience. Despite its promising market potential, NIR’s performance has been struggling since it went public in May through a merger with a special-purpose acquisition corporation (SPAC). As of now, the stock trades at a staggering 83% below its initial $10 issue price.

Expanding Opportunities in a $23 Billion Market

Zgutowicz shed light on NIR’s growth prospects and highlighted the remarkable size of its target market, estimated to be valued at $23 billion. According to the analyst, the unique data insights offered by NIR hold considerable scarcity value in international markets, positioning the company for a larger share of global deals in the future. In his note, Zgutowicz expressed confidence in NIR’s ability to overcome any near-to-medium term liquidity concerns, and he drew attention to the fact that approximately 90% of the company’s revenue is generated through subscription-based services. He also pointed out that NIR has strategically factored in significant “overage” fees, indicating its attractive variable pricing levers when it comes to its offerings.

Willing to try automated trading?
See the best forex robots rating to make the right choice.
Explore the list here >

Related Articles

Leave a Comment

84 − 81 =