logo-loader
viewNextech AR Solutions Corp.

NexTech AR Solutions stock climbs after Starwood Research note touts its billion-dollar potential

The firm called NexTech a "micro cap Tesla" with multiple shots on goal at a multi-billion-dollar business

Nike shoe in AR
The three verticals at the center of the valuation are NexTech’s ARitize 3D-AR-360 Ad Network, its Capture AR 3D app and “V-Commerce,” an in-store virtual reality experience

NexTech AR Solutions Corp (CSE:NTAR) (OTCMKTS:NEXCF) shares jumped Wednesday after a bullish analyst note from Starwood Research called the augmented reality company a “veritable unicorn farm” of potential billion-dollar businesses.

The firm upped its 12-month price target to US$20 just months after initiating coverage in November with a US$5 target but said NexTech has done enough since then to justify a major bump. 

“Since our initial report, less than 3 months ago, [NexTech] has delivered strong results with rapidly increasing revenues,” Starwood wrote. “However, our key impetus for increasing the upside target to $20, is NEXCF’s launch of three new AR initiatives – which we believe can be transformative for NEXCF’s revenues and valuation of the stock, over the next 12 months.”

Investors responded quickly on Wednesday, boosting shares 5.9% to C$2.86 on the CSE and 7.9% to US$2.21 on OTC Markets.

READ: NexTech AR Solutions inks partnership deal with healthcare training video provider

The three verticals at the center of the valuation are NexTech’s ARitize 3D-AR-360 Ad Network, its Capture AR 3D app and “V-Commerce,” an in-store virtual reality experience. 

The big idea, the firm said, is that AR and VR help businesses achieve the holy grail of increasing sales while also reducing product returns. With the addressable market opportunities for online advertising, e-commerce, and brick-and-mortar retail ringing in at US$200 billion, US$684 billion and US$3 trillion, respectively, companies that provide even modest improvements can become billion-dollar business. 

“As investors start to understand the full scope, and upside potential of each of the businesses in NEXCF’s ‘AR portfolio’ – this stock will become increasingly a ‘must own’ for forward-thinking tech investors,” the firm wrote. “Add in some FOMO/Momentum, and the fuse is lit for explosive upside potential.”

—Updated to include stock movement—

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Nextech AR Solutions Corp.

Price: 2.18 CAD

CSE:NTAR
Market: CSE
Market Cap: $137.13 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Nextech AR Solutions Corp. named herein, including the promotion by the Company of Nextech AR Solutions Corp. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: NexTech AR Solutions sign contract with large company to use...

NexTech AR Solutions ( CSE: NTAR- OTCQB: NEXCF) CEO Evan Gappelberg joined Steve Darling from Proactive Vancouver with news the company has secured another deal with a very large company to utilize their ARitize platform. Gappelberg telling Proactive more about the company and also the...

1 day, 13 hours ago

2 min read