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Hold Affle India; target of Rs 1126: ICICI Direct

ICICI Direct recommended hold rating on Affle India with a target price of Rs 1126 in its research report dated October 08, 2021.

October 08, 2021 / 10:24 PM IST
 
 
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ICICI Direct's research report on Affle India


Affle (India) is a technology platform, which 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 • In FY19-21, revenue, PAT have grown at a CAGR of 44%, 45%, respectively.


Outlook


However, on expensive valuation, we are now assigning HOLD recommendation on the stock, we would revisit our numbers, TP and rating post Q2 results. We value Affle at Rs 1,126 i.e. 65x FY23E EPS.


For all recommendations report, click here

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first published: Oct 8, 2021 10:24 pm

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