Voyager Digital (VOYG) announced Wednesday that it has exceeded one million funded accounts on its platform.
This represents an increase of 23 times from December 31, 2020, when it had 43,000 funded accounts, and an increase of 135,000 funded accounts from September 30, 2021. The company also announced that it now has more than 2.7 million verified users.
Voyager is one of the fastest-growing publicly traded cryptocurrency platforms in the United States. (See Insiders’ Hot Stocks on TipRanks)
Gaining Market Share
Voyager CEO and co-founder Stephen Ehrlich said, “Reaching one million funded accounts is an incredible milestone for Voyager. Our strategy of focusing on our loyalty program and on customer acquisition in the September quarter paid off extremely well for us as we continue to gain market share reflected by our increased App Store rankings.”
Ehrlich added that as crypto continues to gain traction, the company will continue to improve the Voyager app with valuable wealth building tools to make crypto accessible to everyone.
In less than a year, Voyager has entered into significant marketing partnerships, including partnerships with the Dallas Mavericks and Fundstrat.
Wall Street’s Take
On November 1, H.C. Wainwright analyst Kevin Dede maintained a Buy rating on VOYG with a C$28 price target. This implies 21.1% upside potential.
The rest of the Street is bullish on Voyager with a Strong Buy rating based on four Buys. The average Voyager Digital price target of C$30.31 implies 31.1% upside potential to current levels.