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NEW YORK, Jan. 25, 2021 /PRNewswire/ iQSTEL, Inc. (USOTC: IQST) today announced that Goldman Small Cap Research has published an updated analyst report with a new target share price recommendation of $0.61, up from $0.54. Goldman further indicates the potential for IQST s share price to reach $1.00 later this year.
Goldman Highlights:
Based on its current valuation relative to its peer group and its entry into new, complementary high growth markets, IQST offers huge upside potential with limited downside risk.
Based on recent and future initiatives we are raising our 2020 revenue forecast to $44.8M, up from $42M and our 6-month target price to $0.61, up from $0.54, previously.
Dear Shareholders,
While 2020 was marked by the COVID-19 pandemic, with the closure of companies and countries completely paralyzed, iQSTEL was able to advance in the development of its business plan, reaching a $44.8 Million Preliminary Revenue Benchmark for FY-2020, and having a $60.5 Million Forecast Revenue for FY-2021. This was made possible by having a clearly defined vision and execution plan.
In the course of 2020, we incorporated three new subsidiaries into our business, with the acquisition of Qglobal, LLC and IoT Labs, LLC, and the creation of Global Money One, LLC. These three new companies, combined with our existing subsidiaries (Etelix, SwissLink and ItsBchain) create a portfolio of products and services well beyond just in the telecom arena.
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NEW YORK, Jan. 7, 2021 /PRNewswire/ iQSTEL, Inc. (USOTC: IQST) today announced achieving $44.8 million in revenue for FY-2020 based on preliminary results. The $44.8 million in revenue exceeds management s $42 million revenue forecast for FY-2020 by 6.8%, and represents a 148% increase over the $18 million in revenue reported in FY-2019.
Last month, in December 2020, IQST realized over $5 million in monthly revenue for a third consecutive month. The $5.1 million in revenue realized in December represents a 165% increase over the $1.9 million in revenue reported in December the previous year.
The three consecutive months exceeding $5 million in revenue resulted in a record quarter totaling $15.3 million for Q4 2020. The previous quarterly record was reported in Q3 2020 when revenue reached $13.3 million. The Q4 2020, $15.3 million in revenue is the third record revenue quarter in a row.
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