Praemium’s full-year result outpaced the broker by a modest clip thanks to a sharp rise in funds under administration. The resulting 23% jump in revenue carried the group across the break-even level.
Morgans says the company remains on track for solid revenue and earnings growth in FY17.
Add rating retained and the target rises to 57c from 49c.
Sector: Software & Services.
Target price is $0.57.Current Price is $0.41. Difference: $0.17 – (brackets indicate current price is over target). If PPS meets the Morgans target it will return approximately 29% (excluding dividends, fees and charges – negative figures indicate an expected loss).