2205 GMT - Technology One's strong growth prospects are already factored into the enterprise software provider's valuation, Goldman Sachs analysts say. They tell clients in a note that the Australia-listed company's first-half profit and U.K. growth were stronger than they had expected. They think that Technology One's fixed-price software-as-a-service offering is resonating with budget-conscious customers, and reckon that annual pre-tax profit growth of 15%-20% should now be seen as normal. Goldman lifts its target price 12% to A$26.90 on a higher earnings multiple but stays neutral on the stock despite bullishness elsewhere. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 19, 2024 17:06 ET (22:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。