RedCloud initiated with a Buy at Rosenblatt

Rosenblatt initiated coverage of RedCloud (RCT) with a Buy rating and $5 price target RedCloud is an online enabler of retail commerce in emerging markets within the area of fast-moving consumer goods, and the company helps over 700 local distributors in four target countries digitize their sales efforts to local retailers while earning a percentage of the transaction volumes on the platform, the analyst tells investors in a research note. Rosenblatt believes that RedCloud is positioned for rapid expansion in its regional markets and for new product innovation while continuing on a path to profitability.