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Buy Affle (India); target of Rs 5000: Sharekhan

Sharekhan is bullish on Affle (India) has recommended buy rating on the stock with a target price of Rs 5000 in its research report dated February 08, 2021.

February 11, 2021 / 03:12 PM IST
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Sharekhan's research report on Affle (India)

For Q3FY2021, Affle continued to report stellar revenue growth, led by strong 46.4% y-o-y growth in converted users; EBITDA margin contracted by 340 bps y-o-y owing to higher employee costs and other costs. Given increasing time spent on mobile and connected devices and rising adoption of digital transformation by enterprises, management sees tremendous opportunity for further scale of its business as the digital ad spend would increase RoI of advertisers. Given the presence in high-growth verticals, wallet share gains, and focus on new markets, Affle is well placed to derive benefits going ahead. We expect earnings to post a 28% CAGR over FY2021-FY2023E.


We maintain Buy on Affle (India) Limited (Affle) with a PT of Rs. 5,000, given its end-to-end offerings, presence in high-growth industries, and unique CPCU business model.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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first published: Feb 11, 2021 03:12 pm

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