Appen's Project-Based Revenues Remain a Risk -- Market Talk

Dow Jones

2024/11/04

2144 GMT - Appen's lack of protection against customers lowering work volumes stops Jefferies analysts from becoming more positive on the stock. They tell clients in a note that the AI-training provider's lowered cost base positions it for earnings growth from new revenues, but say they remain concerned about its contract structures. Appen's revenues are project-based and the company therefore has no downside protection to customers lowering their initial volume commitments, the analysts add. Jefferies raises its target price by 67% to A$2.00 but keeps a hold rating on the stock. Shares are at A$1.92 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 03, 2024 16:44 ET (21:44 GMT)

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They tell clients in a note that the AI-training provider's lowered cost base positions it for earnings growth from new revenues, but say they remain concerned about its contract structures. Appen's revenues are project-based and the company therefore has no downside protection to customers lowering their initial volume commitments, the analysts add. Jefferies raises its target price by 67% to A$2.00 but keeps a hold rating on the stock. Shares are at A$1.92 ahead of the open. 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They tell clients in a note that the AI-training provider's lowered cost base positions it for earnings growth from new revenues, but say they remain concerned about its contract structures. Appen's revenues are project-based and the company therefore has no downside protection to customers lowering their initial volume commitments, the analysts add. Jefferies raises its target price by 67% to A$2.00 but keeps a hold rating on the stock. Shares are at A$1.92 ahead of the open. 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They tell clients in a note that the AI-training provider's lowered cost base positions it for earnings growth from new revenues, but say they remain concerned about its contract structures. Appen's revenues are project-based and the company therefore has no downside protection to customers lowering their initial volume commitments, the analysts add. Jefferies raises its target price by 67% to A$2.00 but keeps a hold rating on the stock. Shares are at A$1.92 ahead of the open. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"APX.AU":"APPEN LTD"},"translate_title":"澳鹏基于项目的收入仍然是一个风险——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"APX.AU":0.9},"content_text":"2144 GMT - Appen's lack of protection against customers lowering work volumes stops Jefferies analysts from becoming more positive on the stock. They tell clients in a note that the AI-training provider's lowered cost base positions it for earnings growth from new revenues, but say they remain concerned about its contract structures. Appen's revenues are project-based and the company therefore has no downside protection to customers lowering their initial volume commitments, the analysts add. Jefferies raises its target price by 67% to A$2.00 but keeps a hold rating on the stock. Shares are at A$1.92 ahead of the open. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 03, 2024 16:44 ET (21:44 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}