PI Financial analysts expect Wishpond Technologies Ltd. (TSX-V:WISH, OTCQX:WPNDF) to achieve record revenue and cash flows in the second half of 2023, driven by organic growth.
In an update to clients, they noted the organic growth drivers will include increasing sales from the new Propel IQ bundled product, ramping up the size of its sales team, and launching new AI-powered products.
The comments come after Wishpond, a provider of marketing-focused online business solutions, reported second-quarter 2023 revenue of C$5.6 million, slightly below their C$6 million estimate, while achieving positive adjusted EBITDA of C$200,000, which exceeded their C$100,000 expectation.
Other potential catalysts mentioned by analysts at PI Financial include the upcoming launch of Wishpond’s SalesCloser AI, an AI-powered sales rep that can deliver personalized, round-the-clock sales calls and product demos without the need for human intervention, which company management anticipates will be a game-changer for businesses of all sizes and industries.
The analysts maintained their ‘Buy’ rating and target price of C$1.75 per share on Wishpond Technologies stock.
Shares of Wishpond rose 3% to $0.69 in late-afternoon trading on Thursday.
Contact Sean at sean@proactiveinvestors.com