0307 GMT - Megaport's bull at Macquarie sees potential for the Australian tech-services provider to beat its annual revenue guidance on the proportion of orders fulfilled as direct sales. Macquarie's analysts point to the company's incremental investment in new sales staff, telling clients in a note that this suggests upside to revenue thanks to the higher gross margins on direct sales. They also say that recent results from listed U.S. partners suggest a slightly more buoyant operating environment, but warn that it is too early to see any sales impact on Megaport. Macquarie trims its target price 4.7% to A$10.20 and keeps an outperform rating on the stock. Shares are down 2.0% at A$7.42. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 24, 2024 22:07 ET (03:07 GMT)
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