The OLB Group, Inc. (NASDAQ: OLB) stock was down -4.81% to $4.95 when the market closed yesterday. Over the past week, OLB stocks sank -7.99%, with a monthly gain of 0.61% and a quarterly performance of 41.43%, while its annual performance rate reached 3.12%.
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On January 06, 2021, the company announced that It is predicting that The OLB Group, Inc. (NASDAQ: OLB) will continue to perform well into the year 2021. The increased appetite for cloud-based merchant services and OLB’s robust solutions portfolio should lead to an expanded merchant base and sales in the current year, according to OLB CEO Ronny Yakov.
Yakov noted that 2020 was a challenging year and tested OLB’s collective resiliency. OLB grew despite these challenges to provide eCommerce solutions and business services to small and mid-sized merchants. The company’s success, combined with the vast improvements to our solution portfolio, positions the company well for continual growth through 2021.
Yakov pointed to several recent achievements, contributing to 2021 momentum like it secured PayFac status with two central banks. Several enhancements were made to the merchant onboarding process, along with an expansion of all applications—a fully contactless and cashless purchase experience for merchants and consumers. Actively helped brick-and-mortar businesses transition to online ordering and fulfillment. It attained listing on NASDAQ in August 2020.
As Yakov mentioned in his remarks, OLB brands and solutions, including eVance merchant processing, GHM benefits program, SecurePay payment gateway, and ShopFast omnicommerce platform, will continue to attract new merchants in the coming year.
We are in an excellent position to help our many customers with multiple business needs,” said Yakov. “OLB has a broad and secure solutions portfolio, and we have a flexible, talented team. We expect 2021 to be a very busy year for all of us.”
Analyst Eye on the Stock
A Wall Street brokerage’s analysis of the estimated price target for this stock gives us this picture: The analysts expect this share’s price to be $9.00 in the next year. According to analysts, the OLB Group Inc. stock’s price target for the next year is 1.50. An upward move to the estimated low will result in the stock increasing 45.0% over that period.