Four Mini Bytes from the Tech Sector
Four Australian techs had varying experiences in yesterday’s ASX trading session, with releases from hummgroup, Empired, Altium and Data #3 receiving the gamut of responses from traders.
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Data#3 Limited
A leading Australian IT services and solutions provider, Data#3 Limited (DTL) is focused on helping customers solve complex business challenges using innovative technology solutions.
Built on a foundation of over 40 years’ experience, combined with world-leading vendor technologies, Data#3 delivers an integrated array of solutions spanning cloud, modern workplace, security, data & analytics and connectivity. These technology solutions are delivered by combining Data#3’s services across consulting, procurement, project services, resourcing and managed services.
Listed on the ASX in 1997, Data#3 reported revenues of $1.6 billion in the 2020 financial year and has more than 1,200 employees. Headquartered in Brisbane, it has facilities across 12 locations in Australia and Fiji.
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News
Data #3 Sees A Solid Rise
Shares in Data#3 Limited (DTL), jumped by more than 6% yesterday after the company confirmed that the interim profit for the 2009-10 financial year would be consistent with previous guidance.
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Analyst Views
DTL – Morgans rates the stock as Add
The analyst lifts the target price to $6.46 from $6.28 and notes impressive organic growth of 30% year-on-year. The Add rating is maintained.
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DTL – Morgans rates the stock as Add
After a recent share price fall, and with the current share price -20% adrift of Credit Suisse's $5.92 target price, the broker upgrades its rating to Add from Hold.
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DTL – Morgans rates the stock as Hold
Morgans lifts its target price to $5.90 from $5.75 and maintains its Hold rating.
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DTL – Morgans rates the stock as Hold
Data#3 has noted its primary objective at present is to keep staff and customers safe and serviced. Immediate demand for the company's remote working solutions is strong. Data suggests to the broker Data#3 will achieve its full-year objective of delivering sustainable growth.
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