Interested in the 7digital share price? Here’s what you need to know

first_img Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. “This Stock Could Be Like Buying Amazon in 1997” Image source: Getty Images See all posts by Rupert Hargreaves Interested in the 7digital share price? Here’s what you need to know Rupert Hargreaves | Friday, 21st August, 2020 | More on: 7DIG Our 6 ‘Best Buys Now’ Sharescenter_img I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Since the end of July, the 7digital (LSE: 7DIG) share price has jumped a staggering 720%. This achievement has made the stock one of the best performing investments on the London market this year. It has also put the company on the radar of most small-cap investors. As such, I think it’s likely that the improving investor sentiment towards the business could send the 7digital share price even higher in the near term.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…If you’re interested in owning a share of this high growth small-cap, here’s what you need to know before investing.Time to buy the 7digital share price?7digital is the global leader in B2B end-to-end digital music solutions. Put simply, the company works with businesses to provide access to music. It also offers services such as radio production and content management expertise.It has agreements with large record labels to provide content. For example, the business recently signed a contract renewal with Universal Music France to support its streaming service through MVNO La Poste Mobile, one of France’s most popular mobile phone networks. Unfortunately, the company has struggled to turn the strategy into a profitable business. Between June 2019 and the beginning of this year, the organisation raised £5m of funds from investors and creditors to remain solvent. It also slashed costs by half, producing estimated annualised cost savings of over £7m. This lack of income has weighed on the 7digital share price.However, with much of its revenue for 2020 already contracted at the beginning of the year, management was forecasting operational profitability by the end of Q2 2020.The pandemic disrupted these plans. The firm recently noted that “certain new contracts and renewals” shifted from the second quarter into the second half. The company now expects to achieve operational profitability during the second half of this year.If it can hit this target, it’ll be a big step forward. I think it could also have a positive impact on the 7digital share price. But this projection was put to shareholders before the company announced its most significant deal to date.Game-changing deal Earlier this week, 7digital announced that it had agreed on a contract with a “global technology company” to provide access to its global music catalogue as well as other services. The agreement will run from August into 2021.The company hasn’t published the name of this party, but the very fact an international technology group is willing to sign an agreement with the business shows 7digital’s growth is just getting started. As such, I think it may be worth buying the 7digital share price as part of a diversified portfolio today. Music streaming is a huge market. Despite the stock’s recent performance, it’s still tiny compared to peers such as Spotify. If the business can leverage and build on its latest global deal, stockholders may see substantial returns on their investment in the years ahead.  Simply click below to discover how you can take advantage of this. Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Rupert Hargreaves owns no share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.last_img read more