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Buy Affle (India): target of Rs 4600: Sharekhan

Sharekhan is bullish on Affle (India) has recommended buy rating on the stock with a target price of Rs 4600 in its research report dated December 17, 2020.

December 18, 2020 / 01:47 PM IST
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  • nselive
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Sharekhan's research report on Affle (India)

The company has launched its audience targeting technology on CTV in Oct 2020. The combined opportunities in mobile-app video, OTT and CTV programmatic ad spending is expected to clock a 17% CAGR over 2020-2025. Affle’s revenue from its top-10 industry verticals have grown at a CQGR of 26% over the last three quarters. These top-10 industries are expected to grow in the range of 20-70% CAGR over next five years. Affle aims to achieve a 10x revenue growth and reach over 10 billion connected devices from over 2.1 billion connected devices currently in the next 10 years. We expect Affle to clock a 29.5% CAGR in revenue over FY2020-23E.


We maintain a Buy on Affle (India) Limited with a revised price target of Rs. 4,600, given its end-to-end offerings, presence in high-growth industries and a unique CPCU business model.

For all recommendations report, click here

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Broker Research
first published: Dec 18, 2020 01:47 pm

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