Bango PLC (AIM:BGO) has been rated as a buy by Berenberg, which has just started coverage of the alternative payments and data platform.
Though smaller than rivals such as Boku, Bango is differentiating itself through its subscription bundling service offered to network carriers, and the ability for both physical and digital goods to be transacted through its platform said the broker.
A new advertising tool for mobile app developers is also gaining rapid adoption and broadened the product suite and enlarged its revenue opportunity.
“We expect the company to continue compounding sales at a 30% CAGR [per year], but for earnings growth to outpace this significantly, as the recent investment in its platform pays off.
Buy with a 300p price target is Berenberg’s view. Shares rose 2.8% today to 186p.