
“Ain’t No Party Like a Crypto Party”.
That’s what Haywood Capital Markets analyst Gianluca Tucci says of WonderFi Technologies (WonderFi Technologies Stock Quote, Chart, News, Analysts, Financials TSX:WNDR).
In a research update to clients January 13, Tucci named WNDR his “Top Pick” for 2025.
“We are anointing Top Pick status to WNDR ahead of what we believe will be an outsized growth year,” the analyst wrote. “We view its current risk/reward as compelling for the following reasons: With increasing regulatory frameworks globally, particularly in Canada and the U.S., clearer rules around crypto trading, custody, and DeFi will attract institutional capital. A defined regulatory landscape often reduces risk premiums and drives valuations higher. Potential approval and expansion of Bitcoin and crypto ETFs in major markets could drive significant inflows, benefiting platforms like WonderFi.”
Tucci thinks WNDR will post Adjusted EBITDA of $10.3-million on revenue of $51.3-million in fiscal 2024. He expects those numbers will improve to Adjusted EBITDA of $21.3-million on a topline of $61.5-million in fiscal 2025.
In the update, Tucci maintained his “Buy” rating and price target of $0.60 on WNDR, implying a return of 107% at the time of publication.
“WonderFi stands to benefit from crypto’s cyclical recovery and growth, increased adoption, strategic positioning, and regulatory clarity, setting the stage for outsized returns in 2025,” the analyst added. “Despite the stock’s +138% move off its October low, it remains very undervalued, in our view.”
Below: WonderFi CEO Dean Skurka talks to Amber Mac at the 2024 Cantech Letter Investment Conference
What does WonderFi do? (courtesy Haywood Capital Markets).
WonderFi owns and operates Bitbuy and Coinsquare, two leading domestic crypto platforms with strongholds in the Canadian market; WonderFi operates Internationally through its expansion in Australia, as well as through SmartPay, its global crypto payments platform. With a collective user base of over 1.75M registered Canadians and a combined assets under custody of just under $2.0-billion, WonderFi serves one of the largest crypto investor communities in Canada.
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