As the Australian market enters profit reporting season company earnings guidance can often be updated, so guidance of a record profit result and an extension of a current on-market buyback is something that should cheer investors.
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.
Company is going well, as proven by the Q1 release, and the outlook for the IT industry remains buoyant, it's just that the share price has run up strongly as well, the broker explains the recommendation downgrade. Sector: Software & Services.