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May 13, 2024

Updating estimates following Q1 Fy24

By Vasily Karasyov

We are updating our model to reflect Q1 results. We are lowering our price target to $25 and maintain Neutral rating. we now expect the following results: Q2 FY24: We are modeling Create Solutions revenue…

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May 10, 2024

Updating estimates following Q1 FY24

By Vasily Karasyov

We are updating estimates following Q1 report. Our rating and price target remain unchanged. We are now modeling Q2 revenue of $575m and Adjusted Ebitda of $224m. We expect full FY24 revenue of $2,391m and…

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May 9, 2024

FIRST LOOK

By Vasily Karasyov

We see Q1 results as generally in line with Adjusted Ebitda ahead of estimates due to lower than expected costs, as should have been expected. Y/Y decline of 4% in Grow Solutions revenue will probably…

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May 9, 2024

Model update following Q1 FY24 report

By Vasily Karasyov

We are raising our 12 month price target to $107 and maintain Buy rating. Our updated estimates are: Q2 FY24: we are modeling Software Platform revenue of $699m and Adjusted Ebitda of $507m, Apps revenue…

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