Must have been a bit embarrassing for them having a target of 654 when share price has been so strong
Guess no good eh
Printable View
Credit Suisse (Jarden) rates Pushpay as Outperform
The broker expects FY21 to be "remarkable" with a shift to digital donations accelerating significantly and the platform becoming indispensable to clients. While acceleration over the last six months may be a pulling forward of demand and creating a challenging base to cycle in FY22 the broker still envisages a significant opportunity.
Credit Suisse also expects Pushpay to exceed FY21 guidance of US$50-54m (EBITDAF), forecasting US$57.2m. Outperform retained. Target rises to NZ$9.30 from NZ$6.54.
Lots of mixed messages with some of the executives selling shares, along with Kabouter selling down their stake to sub 5%, against the backdrop of brokers optimistic target prices (Jarden target price of $9.30 with Forsyth Barr forecasting $12.00+). I see room for growth on the current share price as I believe that PPH will indeed beat the FY21 forecast significantly and that's always well rec'd by the market.
Discl: holder
Sell downs rarely mean anything especially after sp run ups.
The people selling aren't geniuses of the stock market and don't have excellent valuation methods that somehow
make them pick a top.
I think selling based on that would not have been a very smart thing to do.
I do think the november report will be good but we will see these guys dont really provide interim updates
which is a good and bad thing
https://www.goodreturns.co.nz/articl...et-higher.html
Local tech company Pushpay Holdings led the NZX 50 higher, rising 5.8 percent to $8.20, spurred on by another analyst's view.
Research firm Jarden upgraded the stock to ‘outperform’ and hiked its target price to $9.30, adding a hefty $2.76 to its previous target.
“Pushpay was always going to be strong today because the US tech sector had a good night and it shares that thematic, but it will have been helpful to have a broker push through an upgrade,” said Mark Lister, head of private wealth research at Craigs Investment Partners.
The analysts said in a note they expect three years of growth to be compressed into one, bringing a 55 percent increase in donation volume and corporate earnings growth of 128 percent.
“FY21 will be a remarkable year in Pushpay’s trajectory, with the shift to digital donations accelerating significantly, and its platform becoming indispensable to clients,” they wrote.
Interesting that after the Sharesies lunch podcast where they interviewed Bruce Gordon the share price has gone up. Starting from 1pm when the podcast finished.