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    Affle India gains after Goldman Sachs initiates coverage

    Affle India gains after Goldman Sachs initiates coverage

    Affle India gains after Goldman Sachs initiates coverage
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    By CNBCTV18.com  IST (Published)

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    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.
    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.
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