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SRAX Inc. (NASDAQ: SRAX) Set to Benefit as Analysts Hike Company’s Fourth Quarter Revenue Forecasts

  • Zacks Investment Research recently raised its forecast for SRAX’s 4Q21 revenues to $10.05mn, representing +122.3% YoY growth
  • Zacks have also upped their fiscal year 2022 revenue forecast to $42.52 million, implying +35% YoY growth
  • SRAX’s implied results look even more impressive given that it will no longer be consolidating the financials of key subsidiary, BIGtoken, following the latter company’s merger with BritePool, Inc
  • SRAX’s future growth trajectory is set to be dictated by investor intelligence platform, Sequire, having recently recorded its twelfth consecutive quarter of revenue growth

SRAX (NASDAQ: SRAX) a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has seen its financial performance go from strength to strength over the past year. SRAX recently reported its third quarter results on November 15th, 2021, revealing third quarter revenues of $8.3 million, a figure which was up 219% year-over-year and 8% on a quarter-over-quarter basis. Zacks Investment Research, an American independent research and investment content advisory, has recently published its forecast for the upcoming quarter, projecting SRAX to report $10.05 million in sales for the current fiscal quarter. SRAX reported sales of $4.52 million over the same quarter last year, which would imply a theoretical year over year growth rate of 122.3%. SRAX is expected to publish its fourth quarter results on Monday, April 4th, 2022 (https://nnw.fm/DaiPS).

According to the analysts at Zacks Investment Research, SRAX is expected to report full year sales of $31.48 million for the current fiscal year, with current analyst estimates ranging from $31.43 million to $31.53 million. Meanwhile and for 2022, Zacks expects SRAX to report sales of $42.52 million. 

SRAX’s large growth trajectory looks even more impressive in light of the news that the company will no longer consolidate the financials for its former subsidiary, BIGtoken, Inc following the latter company’s merger with BritePool, Inc; both companies formally announced the completion of their merger as of December 2, 2021, with the combined entity changing its corporate name to BIGtoken, Inc. Rather, SRAX will continue to hold a BIGtoken position on their balance sheet valued at nearly $4 million, with the carrying value of the equity set to be adjusted on a quarterly basis to mark the position to market. 

SRAX’s future growth will be driven by Sequire, SRAX’s investor intelligence platform, with Sequire having reported 3Q21 bookings of $8.9 million with Q4 set to rise to a record $12.5 million as of date. SRAX management revealed that they were projecting a further $4 million in Sequire bookings during the fourth quarter, a target which would drive the division’s total booked revenue in Q4 to $16.5 million and extend a run which has seen Sequire report twelve consecutive quarters of revenue growth. 

Christopher Miglino, Founder and CEO of SRAX elaborated on the results, “Our team continues to innovate on product, sales, and marketing; and this is translating into increased revenue. We will hit the high end of our 2021 guidance and are well positioned to close out 2021 strong, with an amazing 2022 on the horizon.”

SRAX’s impressive results and growth trajectory have also played a significant role in bolstering its shareholder register, with several hedge funds and other institutional investors having recently added to their stakes in the business. BlackRock Inc. raised its stake in SRAX by 3.9% during the 3rd quarter, with the asset manager now possessing 70,504 shares of the business services provider’s stock worth $377,000 after acquiring an additional 2,653 shares during the period. Northern Trust Corp raised its stake in SRAX by 16.5% during the 2nd quarter, taking its stake up to 37,199 shares of the business services provider’s stock worth $202,000 after acquiring an additional 5,267 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in SRAX by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 93,283 shares of the business services provider’s stock worth $507,000 after acquiring an additional 7,400 shares during the period.

For more information, visit the company’s website at www.SRAX.com.

NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://nnw.fm/SRAX

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