Goldman Sachs is expecting a 32 per cent CAGR growth in revenues over FY22-25. The company is expected to maintain its 0.17 percent global market share. It assumes limited operating leverage and said the forecast still remains solid.
Shares of Affle India gained over 3 percent on the BSE on Thursday, maintaining its upward streak. In the past five days, the shares have gained over 8 percent while in a month Affle India has given investors nearly 30 percent returns.
At 10:19 am, shares of the global technology company were trading at Rs 1,329, up 3. 3 percent from the previous close on the BSE.
Affle India shares climbed nearly 6 percent on Wednesday after Goldman Sachs initiated coverage on the stock with a buy rating and a target price of Rs 1,495.
According to the brokerage, maximising digital ads is actually effective, especially for emerging-market clients, and smartphone penetration is increasing across key regions.
Goldman Sachs expects a 32 per cent CAGR growth in revenues over FY22-25. The company is expected to maintain its 0.17 percent global market share. It assumes limited operating leverage and said the forecast remains solid.
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The company, in its financial earnings report for the April-June quarter, reported that its net sales stood at Rs 105.16 crore, up 28.48 percent from Rs. 81.85 in the corresponding period a year ago.
Quarterly net profit stood at Rs. 10.29 crore in June 2022, down 31.03 percent from Rs. 14.91 crore in the April-June quarter last year.
The stock has given strong returns to the investors by gaining over 28 percent in a month.