Break out from ressistance Affle
Broke previous resistance with volume can go up to 1445, 1500 buy on dip with sl below 1200 on daily closing, duration of holding few weeks.
RSI now at 70, add more qty on dip.
Share Khan given target of 1535 on May 2024 , from entry of 1200 levels
Summary of Sharekhan Report
Affle’s (India) Q4FY24 revenue stood at Rs. 506.2 crore up, 1.5% q-o-q/42.3% y-o-y, beating our estimates of Rs.
499.8 crore, driven by steady growth in CPCU revenue.
EBITDA margin was flat at 19.4%, on q-o-q and y-o-y basis, slightly beating our estimate of 19.2%. CPCU revenue
recorded steady growth at Rs. 503.8 crore, up 5.5% q-o-q/57.8% y-o-y. Converted users grew 5.5% q-o-q/41.7%
y-o-y to Rs. 8.8 crore.
The company is poised to further accelerate its growth trajectory in FY2025 with a gradual increase in profitability
margin. The company is experiencing a strong market opportunity as advertisers are consistently increasing
their digital spending.
We maintain BUY on Affle with an unchanged PT of Rs. 1,535, as the company is expected to accelerate the
growth trajectory, driven by a wider adoption of its CPCU model and increased digital spending by advertisers.
At 1228 INR the stock trades at 43/36.1x its FY25/FY26E EPS.
https://www.tradingview.com/chart/q6u02xev/?symbol=NSE%3Aaffle
For educational Purpose. Consult your fiancial advisor before investing.
RSI now at 70, add more qty on dip.
Share Khan given target of 1535 on May 2024 , from entry of 1200 levels
Summary of Sharekhan Report
Affle’s (India) Q4FY24 revenue stood at Rs. 506.2 crore up, 1.5% q-o-q/42.3% y-o-y, beating our estimates of Rs.
499.8 crore, driven by steady growth in CPCU revenue.
EBITDA margin was flat at 19.4%, on q-o-q and y-o-y basis, slightly beating our estimate of 19.2%. CPCU revenue
recorded steady growth at Rs. 503.8 crore, up 5.5% q-o-q/57.8% y-o-y. Converted users grew 5.5% q-o-q/41.7%
y-o-y to Rs. 8.8 crore.
The company is poised to further accelerate its growth trajectory in FY2025 with a gradual increase in profitability
margin. The company is experiencing a strong market opportunity as advertisers are consistently increasing
their digital spending.
We maintain BUY on Affle with an unchanged PT of Rs. 1,535, as the company is expected to accelerate the
growth trajectory, driven by a wider adoption of its CPCU model and increased digital spending by advertisers.
At 1228 INR the stock trades at 43/36.1x its FY25/FY26E EPS.
https://www.tradingview.com/chart/q6u02xev/?symbol=NSE%3Aaffle
For educational Purpose. Consult your fiancial advisor before investing.
Trade closed: target reached
first target achieved 1445
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