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Buy Affle India; target of Rs 1500: ICICI Direct

ICICI Direct is bullish on Affle India has recommended buy rating on the stock with a target price of Rs 1500 in its research report dated February 08, 2021.

February 11, 2022 / 08:20 PM IST
 
 
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ICICI Direct's research report on Affle India


Affle India (Affle) is a technology platform that enables advertisers to do targeted advertising. It helps advertisers to measure the effectiveness of advertisement as it charges only when a user downloads an app or completes a transaction As on FY21, 98.2% business comes consumer platforms, while rest comes from enterprise platform


Outlook


We now assign BUY rating (vs HOLD earlier) We value Affle at Rs 1,500 i.e. 67x P/E on FY24E EPS


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At 14:58 hrs Affle India was quoting at Rs 1,225.00, down Rs 37.60, or 2.98 percent.


It has touched an intraday high of Rs 1,255.80 and an intraday low of Rs 1,225.00.


It was trading with volumes of 52,523 shares, compared to its thirty day average of 82,435 shares, a decrease of -36.29 percent.


In the previous trading session, the share closed down 1.88 percent or Rs 24.15 at Rs 1,262.60.


The share touched its 52-week high Rs 1,510.15 and 52-week low Rs 768.00 on 14 January, 2022 and 23 August, 2021, respectively.


Currently, it is trading 18.88 percent below its 52-week high and 59.51 percent above its 52-week low.


Market capitalisation stands at Rs 16,323.25 crore.


For all recommendations report, click here


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first published: Feb 11, 2022 08:20 pm
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