BALTIMORE, MD / ACCESSWIRE / August 8, 2023 / Goldman Small Cap Research, a stock market research firm specializing in the small cap and microcap sectors, announced today that it has published a new research report on Sadot Group, Inc. (NASDAQ:SDOT), formerly known as Muscle Maker, Inc. (NASDAQ:GRIL). Sadot Group provides innovative and sustainable, global supply chain solutions via its international commodity shipping, sourcing and farming business. The Goldman report carries a price target. To view the new research report, along with disclosures and disclaimers, or to download the report in its entirety, please visit: bit.ly/44Zit5c.
The Sadot Group connects producers and consumers across the globe, sourcing agri-commodity products from producing geographies such as the Americas, Africa and the Black Sea and delivering to markets in Southeast Asia, China and the Middle East/North Africa region. The Sadot Group currently operates within three key verticals of the global food supply chain: global agri-commodity sourcing and trading operations for food/feed products; farm operations producing grains and tree crops; food service operations with 45 restaurants in the U.S. and 2 in Kuwait.
In the Opportunity Research report, analyst Rob Goldman reviews SDOT's core business and the potential impact of new initiatives. The report also presents an enhanced financial model based on adjusted net income along with strategic and operational inflection points.
New Name, New Initiatives, New Revenue and Adjusted Income Growth
Goldman commented, "Management has embarked on a series of revenue and income-driving, targeted initiatives, including a name change from Muscle Maker, Inc. to Sadot Group, Inc. This re-branding drives value to the core business. Recent and future milestones appear poised to materially enhance future adjusted net income profitability and future gross margin. Clearly, the recent changes in core parameters of SDOT's service agreement with AGGIA serve as a boon to the Company's adjusted net income."
New Market in Americas and First Step in Farming Enhance Margins
"The acquisition of farmland in Zambia and the formation of a business entity focused on the Americas, notably Latin America, diversifies SDOT's business and could have a material impact on future gross margins. Revenue contribution to Sadot could commence in 4Q23."
Adjusted Net Income to Drive Valuation
Goldman states, "Our revised forecasts reflect some seasonality and the new initiatives. As for the adjusted P&L for 2023, we currently project revenue of $740.3M and EPS of $0.21. In 2024, we project top-line of $850.8M and EPS of $0.30. These figures could be adjusted following 2Q23 financial results, scheduled for release on August 10, 2023. In the interim, our price target reflects a reasonable 15x price/earnings multiple on 2024E adjusted EPS for the entire company," concluded Goldman.
About Goldman Small Cap Research: Founded in 2009 by former Piper Jaffray analyst and mutual fund manager Rob Goldman, Goldman Small Cap Research produces sponsored and non-sponsored small cap and microcap stock research reports, articles, stock market blogs, and popular investment newsletters.
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This press release contains excerpts of our most recently published company report on Sadot Group, Inc., formerly known as Muscle Maker, Inc. ("The Company"). The information used and statements of fact made have been obtained from sources considered reliable but we neither guarantee nor represent the completeness or accuracy. Goldman Small Cap Research relied solely upon information derived from Sadot Group, Inc. The information includes authorized press releases or legal disclosures made in their filings with the U.S. Securities and Exchange Commission http://www.sec.gov.
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Goldman Small Cap Research
Rob Goldman, Analyst
410-609-7100
[email protected]
SOURCE: Goldman Small Cap Research