0231 GMT - Appen's 2025 guidance makes it difficult to discern the data-annotation provider's trajectory at the start of the year, says Jefferies analyst Wei Sim. He doesn't sound overly concerned by management's comment that large-language model project volumes are down on those in the last quarter, pointing out that Appen's revenues typically build on-quarter through the year. However, he tells clients in a note that limited earnings visibility means he bases his lowered forecasts on management commentary and the company's sub-segment performance breakdowns. Jefferies maintains a hold rating and a target price of A$2.00 on the stock, which is down 8.5% at A$1.7575. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 21:31 ET (02:31 GMT)
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