SeeThruEquity has issued a company update and reaffirmed its price target of $2.45 on shares of Net Element, Inc. (NASDAQ: NETE). Among other highlights, the analyst notes NETE’s full-year 2016 revenue growth of 35% to $54.3 million, driven by strength in its largest segment, North American Transaction, and an increase in the volume of transactions processed on NETE’s platform, which rose by 40% versus 2015, to reach $2.45 billion. NETE’s NA Transactions segment consists of Unified Payments, a provider of comprehensive turnkey payment processing solutions, as well as Aptito, a cloud-based restaurant management solution.
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About Net Element, Inc.
Net Element (NASDAQ: NETE) is a global payments-as-a-service, technology provider with an integrated mobile and transactional services platform serving millions of emerging market clients. Its wholly owned subsidiary, TOT Group operates Unified Payments, a U.S. focused transaction processing and value-added services brand, Aptito, a next generation, cloud-based point of sale payments platform and TOT Money, a leading mobile payments service provider that is gaining significant traction in the mobile payments market in Russia and for two consecutive years, has been ranked in the Top 3 mobile payments providers by Beeline, Russia’s second largest telecommunications operator.
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