Ascendiant Capital Markets Comments on SurgePays Q1 Earnings

SurgePays, Inc. (NASDAQ:SURG) – Ascendiant Capital Markets issued their Q1 2027 earnings per share (EPS) estimates for SurgePays in a note issued to investors on Thursday, April 16th. Ascendiant Capital Markets analyst E. Woo expects that the medical equipment provider will post earnings of ($0.03) per share for the quarter. Ascendiant Capital Markets has a “Buy” rating and a $5.00 price objective on the stock. The consensus estimate for SurgePays’ current full-year earnings is $0.20 per share. Ascendiant Capital Markets also issued estimates for SurgePays’ Q2 2027 earnings at ($0.01) EPS, Q3 2027 earnings at $0.07 EPS, Q4 2027 earnings at $0.03 EPS and FY2027 earnings at $0.06 EPS.

A number of other analysts have also issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of SurgePays in a research report on Monday, December 29th. Wall Street Zen upgraded shares of SurgePays to a “sell” rating in a research note on Saturday, January 3rd. Finally, Zacks Research upgraded shares of SurgePays from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.00.

SurgePays Stock Down 4.5%

Shares of NASDAQ SURG opened at $0.70 on Wednesday. The firm has a market cap of $17.51 million, a price-to-earnings ratio of -0.39 and a beta of 0.54. SurgePays has a 52-week low of $0.46 and a 52-week high of $3.47. The business’s 50 day moving average is $0.79 and its two-hundred day moving average is $1.55.

Institutional Investors Weigh In On SurgePays

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new stake in shares of SurgePays in the fourth quarter valued at about $52,000. Gaddis Premier Wealth Advisors LLC purchased a new stake in shares of SurgePays in the fourth quarter valued at about $631,000. Millennium Capital Advisors LLC purchased a new stake in shares of SurgePays in the fourth quarter valued at about $142,000. CIBC Private Wealth Group LLC purchased a new stake in shares of SurgePays in the third quarter valued at about $211,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of SurgePays in the third quarter valued at about $320,000. 6.94% of the stock is owned by hedge funds and other institutional investors.

About SurgePays

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.