0103 GMT - Technology One's annual result supports Jefferies analysts' view of improving momentum at the Australian enterprise software provider's U.K. business. The analysts say that 31% annual recurring revenue growth off a larger base chimes with the findings of their earlier conversations with software-as-a-service sales consultants and Technology One customers. Technology One's annual pretax profit was slightly stronger than Jefferies analysts had expected. They tell clients in a note that they retain a buy rating on the stock. Jefferies has a last-published A$29.00 target price. Shares are up 12% at A$30.08. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 18, 2024 20:03 ET (01:03 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.