NBT Initiates Coverage of Bitzio, Inc. (BTZO) with 2013 Target $2
NBT Equities Research initiates coverage of Bitzio today with a strong buy. BTZO is a very fast growing pure play on development/publishing services for mobile app developers…$2 target based on 2013 EBITDA of @$12MM.
The Mobile App sector in one of NBT's favorite "Super Sectors" aka a secular growth industry with 25%+ CAGR (cumulative annual growth rate) for the next 3-5 years. The size and rate of growth within the mobile app space is staggering—from hundreds in 2010 to millions in 2012 and soon hundreds of millions as EVERY web page/video/game is being converted into an HTML5 based "app".
Bitzio is an accretive acquisition machine AND one of the ONLY public pure-plays in the mobile app developer space and its' amazing secular growth rate. BTZO has a very large pipeline of acquisitions planned to create dominant mobile app tools/development/publishing leader in the space. We expect this stock to be a very fast mover: there are multiple catalysts coming into the stock from recent and upcoming acquisitions, product introductions and educational events for mobile app community.
Most important, the BTZO management team is very impressive and entrepreneurial...the perfect combo of young gun coders/app developers, established business and marketing savvy "adults". Newly appointed CEO William Schonbrun is a force of nature—in a good way. He is the force behind the acquisition pipeline and execution strategy we admire in this rapidly growing new company. He has recruited an industry leading team—and letting them run fast.
We are completing full report and will publish shortly...wanted to get this out to our members now as stock is gaining lots of volume and looks ready to break-out technically. LOVE this pure play on mobile apps under .50-.60 a share.
Tobin Smith
Founder and Chairman
NBT Equities Research
www.nbtequitiesresearch.com
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Disclaimer: NBT Equity Group anticipates an issuer-sponsored research and investor marketing engagement from Bitzio,Inc.
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