Maxim Group analyst Michael Diana has maintained their neutral stance on SURG stock, giving a Hold rating on November 14.
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Michael Diana’s rating is based on several factors influencing SurgePays’ financial outlook. Despite a significant increase in revenue for the third quarter of 2025, the company reported a net loss and negative cash flow, which raises concerns about its financial health. The reaffirmation of a substantial revenue growth target for 2026 suggests potential, but achieving this while managing costs remains uncertain.
Furthermore, the company’s strategy to reduce customer acquisition costs to improve cash flow is seen as necessary but challenging, given the negative gross margins reported. The balance sheet indicates potential liquidity issues, with limited cash reserves and existing debt, suggesting that additional capital may be needed. Due to these uncertainties and the need for more clarity on the company’s future performance, a Hold rating is maintained until further confirmation of financial improvements is observed.
In another report released on November 14, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.00 price target.