Near Intelligence's Stock Rallies 43% After Benchmark Starts Coverage With Speculative Buy Rating -- MarketWatch

Dow Jones

Jul 08, 2023

Near Intelligence Inc.'s stock $(NIR)$ rallied 43% Friday, after Benchmark initiated coverage of the stock with a speculative buy rating with analyst Mark Zgutowicz arguing it's undervalued. Near Intelligence is a software company that helps companies understand consumer behavior. It went public in May via a merger with a special-purpose acquisition corporation, or SPAC, but has languished ever since and is now trading more than 83% below its $10 issue price. Zgutowicz said the company is operating in a market with a total addressable market of $23 billion. "The relative scarcity value for NIR's data insights within international markets will allow for a greater share of global deals moving forward," the analyst wrote in a note. Near-to-medium term liquidity concerns are overstated and its subscription-based revenue, which accounts for about 90% of the total, " has factored considerable "overage" fees, suggesting NIR has reasonably attractive variable pricing levers with respect to its offerings," he wrote.

-Ciara Linnane

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July 07, 2023 13:28 ET (17:28 GMT)

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Near Intelligence is a software company that helps companies understand consumer behavior. It went public in May via a merger with a special-purpose acquisition corporation, or SPAC, but has languished ever since and is now trading more than 83% below its $10 issue price. Zgutowicz said the company is operating in a market with a total addressable market of $23 billion. \"The relative scarcity value for NIR's data insights within international markets will allow for a greater share of global deals moving forward,\" the analyst wrote in a note. Near-to-medium term liquidity concerns are overstated and its subscription-based revenue, which accounts for about 90% of the total, \" has factored considerable \"overage\" fees, suggesting NIR has reasonably attractive variable pricing levers with respect to its offerings,\" he wrote. \n</p>\n<p>\n  -Ciara Linnane \n</p>\n<p>\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n</p>\n<p>\n  This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. 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Near Intelligence is a software company that helps companies understand consumer behavior. It went public in May via a merger with a special-purpose acquisition corporation, or SPAC, but has languished ever since and is now trading more than 83% below its $10 issue price. Zgutowicz said the company is operating in a market with a total addressable market of $23 billion. \"The relative scarcity value for NIR's data insights within international markets will allow for a greater share of global deals moving forward,\" the analyst wrote in a note. Near-to-medium term liquidity concerns are overstated and its subscription-based revenue, which accounts for about 90% of the total, \" has factored considerable \"overage\" fees, suggesting NIR has reasonably attractive variable pricing levers with respect to its offerings,\" he wrote. \n</p>\n<p>\n  -Ciara Linnane \n</p>\n<p>\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n</p>\n<p>\n  This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 07, 2023 13:28 ET (17:28 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4023","symbol_name":"应用软件","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2349672389","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2349672389","pubTimestamp":1688750880,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Near Intelligence Inc.'s stock  rallied 43% Friday, after Benchmark initiated coverage of the stock with a speculative buy rating with analyst Mark Zgutowicz arguing it's undervalued. 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It went public in May via a merger with a special-purpose acquisition corporation, or SPAC, but has languished ever since and is now trading more than 83% below its $10 issue price. Zgutowicz said the company is operating in a market with a total addressable market of $23 billion. \"The relative scarcity value for NIR's data insights within international markets will allow for a greater share of global deals moving forward,\" the analyst wrote in a note. Near-to-medium term liquidity concerns are overstated and its subscription-based revenue, which accounts for about 90% of the total, \" has factored considerable \"overage\" fees, suggesting NIR has reasonably attractive variable pricing levers with respect to its offerings,\" he wrote. \n\n\n  -Ciara Linnane \n\n\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n\n\n  This content was created by MarketWatch, which is operated by Dow Jones & Co. 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