SurgePays Q2 EPS Increased by Ascendiant Capital Markets

SurgePays, Inc. (NASDAQ:SURG) – Analysts at Ascendiant Capital Markets upped their Q2 2026 earnings per share (EPS) estimates for SurgePays in a research report issued on Tuesday, June 9th. Ascendiant Capital Markets analyst E. Woo now anticipates that the medical equipment provider will post earnings per share of ($0.11) for the quarter, up from their prior estimate of ($0.15). Ascendiant Capital Markets currently has a “Buy” rating and a $3.50 target price on the stock. The consensus estimate for SurgePays’ current full-year earnings is ($0.70) per share. Ascendiant Capital Markets also issued estimates for SurgePays’ Q3 2026 earnings at ($0.08) EPS, Q4 2026 earnings at ($0.02) EPS, FY2026 earnings at ($0.70) EPS, Q1 2027 earnings at ($0.01) EPS and Q2 2027 earnings at ($0.03) EPS.

SurgePays (NASDAQ:SURG) last issued its quarterly earnings data on Wednesday, May 20th. The medical equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.32). The firm had revenue of $15.98 million during the quarter, compared to analyst estimates of $15.50 million. SurgePays had a negative net margin of 64.91% and a negative return on equity of 967.32%.

Several other research firms also recently commented on SURG. Weiss Ratings restated a “sell (e+)” rating on shares of SurgePays in a research note on Friday, May 22nd. Zacks Research downgraded shares of SurgePays from a “hold” rating to a “strong sell” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $3.50.

SurgePays Stock Performance

SURG opened at $0.40 on Monday. The stock has a fifty day moving average of $0.59 and a 200-day moving average of $1.05. The company has a market capitalization of $10.05 million, a P/E ratio of -0.21 and a beta of 0.31. SurgePays has a fifty-two week low of $0.40 and a fifty-two week high of $3.45.

Institutional Trading of SurgePays

A number of institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers increased its position in shares of SurgePays by 43.5% in the first quarter. Cetera Investment Advisers now owns 66,000 shares of the medical equipment provider’s stock worth $50,000 after purchasing an additional 20,000 shares during the period. Gaddis Premier Wealth Advisors LLC raised its position in shares of SurgePays by 16.0% in the 1st quarter. Gaddis Premier Wealth Advisors LLC now owns 438,287 shares of the medical equipment provider’s stock valued at $329,000 after buying an additional 60,363 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of SurgePays in the 4th quarter valued at approximately $52,000. Millennium Capital Advisors LLC bought a new stake in shares of SurgePays during the 4th quarter worth approximately $142,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of SurgePays during the 3rd quarter worth approximately $211,000. 6.94% of the stock is currently owned by institutional investors.

About SurgePays

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.