Argus Research Initiates Coverage On HeartCore; Sees Huge Upside

Argus Research initiated coverage on HeartCore Enterprises Inc HTCR with a fair value estimate of $6.
HeartCore shares closed at $1.85 on April 21.
Argus noted HeartCore developed a robust suite of commercial software programs and is well-positioned to roll out new products across Japan while also growing its nascent U.S. business.
HeartCore has developed and commercialized a customer experience management (CMX) platform, accounting for 80% of its 2021 revenues. Over the past four years, HeartCore developed a Digital Transformation (DX) platform for data mining, task mining, and robotic process automation.
Argus expects HeartCore to integrate its DX Platform further into its core CMX software, thus supporting its customers' shift to cloud computing and developing peripheral products around both platforms.
Given its favorable view of steady 90%-plus retention rates for paying customers of CMX business, Argus expects HeartCore to likely improve the adoption of paying DX customers upon pandemic recovery.
Argus views HeartCore adequately funded to invest in its expansion into the U.S. market, build key personnel, and potentially engage in merger and acquisition (M&A) activities.
Price Action: HTCR shares traded higher by 6.49% at $1.97 on the last check Friday.