Maxim Group analyst Jack Vander Aarde has maintained their bullish stance on BRAG stock, giving a Buy rating on August 18.
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Jack Vander Aarde has given his Buy rating due to a combination of factors including Bragg Gaming Group Inc.’s strategic market expansion and undervaluation relative to peers. Despite facing challenges in the Netherlands and Brazil, the company is making significant strides in the U.S. and Brazilian markets, which are expected to contribute substantially to future revenue growth.
Furthermore, Bragg Gaming’s financial position remains robust with positive free cash flow projections and sufficient capital resources. The stock is trading at a lower EV/EBITDA multiple compared to its industry peers, suggesting it is undervalued. These elements, combined with the company’s ongoing efforts to onboard new strategic iGaming customers, underpin Jack Vander Aarde’s Buy recommendation.
Vander Aarde covers the Technology sector, focusing on stocks such as Cloudastructure, Inc. Class A, Alarm, and Datavault AI. According to TipRanks, Vander Aarde has an average return of 0.9% and a 29.87% success rate on recommended stocks.