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IZEA Buys Hoozu, Expands Footprint in Asia-Pacific & Oceania

IZEA Worldwide IZEA is keeping no stone unturned to expand its influencer marketing platform.

The company recently acquired Hoozu, which will help it expand its footprint in the Asia-Pacific region and Oceania.

IZEA intends to expand its presence in the Australian influencer market with the help of Hoozu’s talent management division, Huume. The company expects to expand its technological and marketing capabilities with the addition of Hoozu’s managed services business to its portfolio.

IZEA WORLDWIDE, INC. Price and Consensus

 

IZEA WORLDWIDE, INC. Price and Consensus
IZEA WORLDWIDE, INC. Price and Consensus

IZEA WORLDWIDE, INC. price-consensus-chart | IZEA WORLDWIDE, INC. Quote

 

Growth Prospects

IZEA Worldwide’s success is driven by its expanding clientele and managed services. It recently achieved a milestone by registering more than $1 million users on its influencer marketing platforms.

Recently, IZEA Worldwide added numerous new features in IZEA Flex for customers to benefit from, including integrated Google Mail, complete influencer marketing expense tracking and many more.  

IZEA Worldwide also offered free access to ChatGPT-4 to help influencers and creators with the best possible OpenAI features.  

The company aims to help creators with improved influencer marketing strategies and invest more in improving their creator marketplace and Form AI.

Outlook Strong

IZEA reported third-quarter 2023 revenues of $7.9 million, which declined 27.1% year over year.

Managed services bookings were $7.1 million, down 13.4% year over year. However, there was an increase of 18.2% year-over-year in managed service bookings for existing customers.

For 2023, IZEA expects revenues of $38 million, indicating 30% year-over-year growth.

Zacks Rank & Stocks to Consider

Currently, IZEA Worldwide carries a Zacks Rank #3 (Hold).

The company’s shares have returned 13.7% compared with the Zacks Computer & Technology sector’s return of 43.7%.

Some better-ranked stocks in the broader technology sector are Flex FLEX, Badger Meter BMI and NVIDIA NVDA. While Flex and Badger Meter sport a Zacks Rank #1 (Strong Buy), Nvidia carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Flex shares have gained 17.5% in the year-to-date period. Flex’s long-term earnings growth rate is currently projected at 12.4%.

Badger Meter’s shares have gained 37.4% in the year-to-date period. Badger Meter’s long-term earnings growth rate is currently projected at 20.39%.

NVIDIA shares have gained 217.8% in the year-to-date period. NVIDIA's long-term earnings growth rate is currently projected at 13.5%.

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Badger Meter, Inc. (BMI) : Free Stock Analysis Report

NVIDIA Corporation (NVDA) : Free Stock Analysis Report

Flex Ltd. (FLEX) : Free Stock Analysis Report

IZEA WORLDWIDE, INC. (IZEA) : Free Stock Analysis Report

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