Super Group (SGHC) Limited (SGHC) Raises Revenue and EBITDA Guidance Asserting Underlying Growth

Super Group (SGHC) Limited (NYSE:SGHC) is a must-buy non-tech stock to invest in. On November 4, analysts at Canaccord Genuity reiterated a Buy rating and an $18 price target on Super Group (SGHC) Limited (NYSE:SGHC). Likewise, Needham analyst Bernie McTernan echoed similar sentiments, reiterating a Buy rating and a $15 price target.

The wave of positive ratings on Wall Street comes on Super Group delivering another quarter of strong financial results, marked by a 65% increase in adjusted EBITDA to $152 million. Revenue in the quarter was up 26% to $556.9 million from $442.9 million delivered in the same quarter last year. Profit for the quarter was $95.8 million, a significant improvement from $10.3 million delivered in the same quarter last year.

The strong financial results came amid an 18% increase in monthly active customers to 5.5 million. Likewise, SGHC has raised its revenue guidance to between $2.17 and $2.27 billion, up from $2.125 – $2.20 billion. Adjusted EBITDA is expected to range between $555 and $565 million, up from the previous guidance of between $550 and $560 million.

Super Group (SGHC) Limited (NYSE:SGHC) is a global holding company for online sports betting and gaming. It offers Betway, an online sports betting and casino offering, and Spin, a multi-brand online casino.

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Disclosure: None. This article is originally published at Insider Monkey.