Ascendiant Capital Reiterates Buy Rating on SurgePays, Inc.
Ascendiant Capital keeps its Buy rating on SurgePays, Inc. with a $3.50 price target, a 775% upside from the current price.
Key Points
- Ascendiant Capital reiterated its Buy rating on SurgePays, Inc. with a price target of $3.50 on June 10, 2026.
- Ascendiant Capital's $3.50 price target implies 775% upside from SurgePays, Inc.'s ($SURG) current $0.40 share price.
- SurgePays shares are trading at $0.40 with a market cap of approximately $10.05 million, and a forward P/E of 8.
- Insiders, including CEO Kevin Brian Cox, have been actively buying shares, with Cox acquiring 500,000 shares on June 1, 2026.
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Ascendiant Capital reiterated its Buy rating for SurgePays, Inc. (NasdaqCM: SURG) on June 10, 2026, setting a price target of $3.50. The firm, known for its coverage of telecom services, continues to show confidence in SurgePays despite its current stock price of $0.40.
SurgePays, Inc. Stock Up 131.2%
Shares of SurgePays, Inc. are trading near $0.40, giving the company a market cap of about $10.05 million. The stock has a forward P/E ratio of 8, indicating some investor confidence in future earnings. SurgePays has a beta of 0.202, suggesting low volatility compared to the market. Over the past year, the stock has ranged from a low of $0.40 to a high of $3.45, with a 50-day moving average of $0.58 and a 200-day moving average of $1.54.
Recent Earnings
In its last earnings report, SurgePays posted revenue of $62.37 million, marking a growth of 51.1% from the previous period. However, the company is not yet profitable, as indicated by a net margin of -64.91% and an EPS of -$1.93. The next earnings report is expected on May 15, 2026.
Insider Buying and Selling at SurgePays, Inc.
There has been notable insider activity at SurgePays. CEO Kevin Brian Cox purchased 500,000 shares on June 1, 2026, at a price of $0. This follows another acquisition of the same amount on April 1, 2026. Additionally, insider David Allen May bought 34,716 shares at $0.53 on June 5, 2026.
Analysts Set New Price Targets
On June 10, 2026, Ascendiant Capital maintained its Buy rating on SurgePays, Inc. with a target price of $3.50. This aligns with the consensus among analysts, where the mean price target is also $3.50, supported by a strong buy recommendation.
Other Institutional Activity in SurgePays
Vanguard Capital Management LLC recently acquired 567,358 shares of SurgePays, now holding shares valued at $426,086. Gaddis Premier Wealth Advisors LLC increased its position by 60,363 shares, bringing its total to 438,287 shares worth about $329,154. Meanwhile, Geode Capital Management, LLC added 58,958 shares, reaching a total of 223,997 shares valued at $168,239.
About SurgePays, Inc.
SurgePays, Inc. operates as a financial technology and telecom company in the United States. It is involved in several segments, including MVNO wireless brands, an MVNE enablement platform known as HERO, and point-of-sale and fintech services. The company provides mobile broadband solutions to consumers and fintech transaction platforms to convenience stores. SurgePays is headquartered in Bartlett, Tennessee, and led by CEO Kevin Brian Cox.
Bottom Line
Ascendiant Capital's reiterated Buy rating underscores continued confidence in SurgePays, Inc. as the company navigates its financial technology and telecom operations. While the stock is currently trading at $0.40, the firm's $3.50 target suggests potential upside. Investors should note that this analysis reflects Ascendiant's outlook as of the latest report and may not indicate current market sentiment.
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