$11.40 Million in Sales Expected for SRAX, Inc. (NASDAQ:SRAX) This Quarter

Analysts expect that SRAX, Inc. (NASDAQ:SRAXGet Rating) will report $11.40 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for SRAX’s earnings, with the highest sales estimate coming in at $11.50 million and the lowest estimate coming in at $11.30 million. SRAX reported sales of $5.44 million in the same quarter last year, which indicates a positive year over year growth rate of 109.6%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that SRAX will report full-year sales of $47.24 million for the current financial year, with estimates ranging from $45.47 million to $49.00 million. For the next year, analysts expect that the firm will post sales of $56.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover SRAX.

SRAX has been the topic of several recent research reports. Zacks Investment Research upgraded SRAX from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Wednesday, April 6th. Dawson James boosted their target price on SRAX from $11.50 to $13.00 in a report on Monday, January 10th. Finally, LADENBURG THALM/SH SH boosted their target price on SRAX from $12.00 to $13.50 in a report on Tuesday, January 11th.

SRAX stock opened at $4.20 on Thursday. SRAX has a 12-month low of $3.53 and a 12-month high of $7.29. The stock has a market cap of $109.83 million, a price-to-earnings ratio of -4.77 and a beta of 1.86. The business’s 50-day moving average is $4.57 and its 200 day moving average is $4.89.

Several hedge funds have recently added to or reduced their stakes in the company. Whitefort Capital Management LP purchased a new stake in shares of SRAX during the 4th quarter valued at approximately $5,243,000. Jane Street Group LLC purchased a new stake in shares of SRAX during the 3rd quarter valued at approximately $1,017,000. Geode Capital Management LLC raised its position in shares of SRAX by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 187,312 shares of the business services provider’s stock valued at $1,000,000 after buying an additional 21,196 shares during the period. Divisadero Street Capital Management LP purchased a new stake in shares of SRAX during the 4th quarter valued at approximately $659,000. Finally, Dimensional Fund Advisors LP raised its position in shares of SRAX by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 136,858 shares of the business services provider’s stock valued at $614,000 after buying an additional 7,492 shares during the period. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

About SRAX (Get Rating)

SRAX, Inc, a technology company, focused on enhancing communications between public companies and their shareholders and investors in the United States. The company offers Sequire, a Saas platform that allows issuers to track their shareholders' behaviors and trends, then use data-driven insights to engage with shareholders across marketing channels.

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