Shares of Quisitive Technology Solutions, Inc. (TSXV:QUIS) have also soared more than 300% during the past three months
SmallCapPower | February 12, 2020: Quisitive Technology Solutions, Inc. (TSXV:QUIS) shares have been on quite a tear during the past five trading sessions, gaining more than 24% to its current price of $0.435, on no news. Back on February 5, 2020, we wrote an article about Quisitive Technology, suggesting that the prospects appear to be bright for this Canadian company.
Quisitive Technology Solutions helps its clients harness the power of the Microsoft Cloud and technologies, such as artificial intelligence, machine learning, IOT, and blockchain through customized solutions. Quisitive’s vision is to become the premier Microsoft Solutions provider, and is planning to scale organically and through acquisitions.
Quisitive’s vision is to become the premier Microsoft Cloud Services provider. In 2019, Quisitive Technology Solutions was awarded the 2019 U.S. Microsoft Partner of the Year for being 100% committed to the Microsoft Azure consulting company. Quisitive generated $300M in revenue for Microsoft Azure with 125 assessments in 2019. The Company’s goal is to become large enough to handle multi-million-dollar Microsoft Azure projects, and small enough to maintain the agility needed to develop unique and innovative solutions utilizing all the tools in the Microsoft Azure stack – including Blockchain, AI, and IoT.
Quisitive Technology Solutions announced recently the acquisition of Menlo Technologies, a provider of Microsoft technology, corporate consulting, and business software and systems. Menlo offers managed onshore and offshore development services from its Silicon Valley headquarters and offshore development center in Hyderabad, India. Over the last 12 months as at September 30, 2019, Menlo generated $17.5M in revenue and $2.4M in Adj. EBITDA. The acquisition closed in January 2020.
Approximately 20% of Quisitive’s revenues are recurring and analysts are forecasting ~100% year-over-year revenue growth. Gartner Consulting estimates that cloud services will grow exponentially through to 2022. The global cloud-services market grew to $214.3B in revenues in 2019, a 17.5% increase from 2018. Gartner estimates that the fastest-growing market segment will be cloud system infrastructure services, or infrastructure as a service (IaaS), which is forecast to grow 27.5% in 2019 to reach $38.9B, up from $30.5B in 2018.
Quisitive Technology Solutions stock trades at a market capitalization of about C$47.8 million.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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