Wednesday of last week, QualityStocks initiated coverage of NetSol Technologies, Inc. (NASDAQ: NTWK). Since then the stock has risen from $0.80 to a high of $1.08 for gains of 35%! Volume has also increased substantially from a daily average of 105,657 to as high as 673,500 traded shares in a single day.
NetSol Technologies, Inc. leverages its BestShoring(TM) practices and highly experienced resources to deliver high-quality, cost-effective solutions. Their suite of products and services include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services.
NetSol’s commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by less than 100 companies worldwide. These distinctions are a result of adhering to rigorous quality standards, resulting in the delivery of solutions that are secure, reliable, properly planned, and meticulously executed.
Serving the global financial, healthcare, insurance, energy, and technology markets, NetSol has operations, offices, and joint ventures in Adelaide, Bangkok, Beijing, Lahore, London, Riyadh, San Francisco, and San Pedro Sula. The company’s clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies.
Analysts are very supportive of the company with an average price target of $2.25. NetSol Technologies recently issued improved financial guidance expectations for its full year fiscal 2010 period ending June 30, 2010. Revenues are anticipated to be between $33.0 million and $35.0 million, representing growth of between 25%-32%. The company also projects a return to GAAP net income versus a GAAP net loss of $0.30 per diluted share for fiscal year 2009.
NetSol’s years of capital investment in its offerings has the company extremely well positioned as demand amongst fortune 500 clients surges worldwide. Looking forward, the company is very optimistic of its short-term and long-term outlook as it sees strong growth in Asia Pacific as well as the South East Asian markets, while also envisioning unlimited potential for its niche solutions and services in the Americas.
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