AND – Morgans rates the stock as Add

Ansarada Group delivered a first half result better than Morgans had expected as subscriptions customers rose 12% year-on-year. It’s considered this will result in revenue growth from the 1H21 to 2H21.

The merger of the company with thedocyard was consummated and operating costs were reduced leading to an earnings (EBITDA ) positive position, explains the broker.

The analyst upgrades FY21-22 pro forma revenue forecasts by 5-10% which, combined with forecasts for lower opex, leads to material upgrades to EPS forecasts.The Add rating and $1.55 target are maintained.

Sector: Software & Services.


Target price is $1.55.Current Price is $1.30. Difference: $0.25 – (brackets indicate current price is over target). If AND meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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