BUZZ-Australia's Audinate set for worst year ever on multiple profit downgrades

Reuters

Dec 27, 2024

** Shares of Australia's Audinate Group set to drop close to 55% in 2024

** Stock set for its worst year since listing

** The audio-visual network developer was hit by a raft of earnings downgrades over the year, reflecting rising industry inventory levels and muted demand

** Stock hit A$18.75 record high in February on robust HY results but dropped to A$6.5 in August on a dismal FY25 outlook

** Stock currently trading at A$7.48

** Jefferies downgraded AD8 to "hold" from "buy" in Octocber after co's Q1 update

** Morningstar in an October note flagged that Audinate was not showing any signs of improvement while it was transitioning the business from hardware-based sales to software-based sales

** Market appears to believe the company's current slowdown may signal a loss of competitive position or exhaustion of its addressable market, Morningstar added

** Audinate is set to be one of the benchmark index's worst performers in 2024

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ AD8

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))

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competitive position or exhaustion of its addressable market, Morningstar added   ** Audinate is set to be one of the benchmark index's worst performers in 2024    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数","XJO.AU":"标普/澳交所 200指数","AD8.AU":"AUDINATE GROUP LTD"},"translate_title":"BUZZ-澳大利亚Audinate因多次利润下调而创下有史以来最糟糕的一年","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XJO.AU":1,"XKO.AU":1,"AD8.AU":0.9,"XAO.AU":1},"content_text":"** Shares of Australia's Audinate Group    set to drop close to 55% in 2024   ** Stock set for its worst year since listing   ** The audio-visual network developer was hit by a raft of earnings downgrades over the year, reflecting rising industry inventory levels and muted demand   ** Stock hit A$18.75 record high in February on robust HY results but dropped to A$6.5 in August on a dismal FY25 outlook   ** Stock currently trading at A$7.48   ** Jefferies downgraded AD8 to \"hold\" from \"buy\" in Octocber after co's Q1 update   ** Morningstar in an October note flagged that Audinate was not showing any signs of improvement while it was transitioning the business from hardware-based sales to software-based sales   ** Market appears to believe the company's current slowdown may signal a loss of competitive position or exhaustion of its addressable market, Morningstar added   ** Audinate is set to be one of the benchmark index's worst performers in 2024    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ AD8       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Reporting by Rishav Chatterjee in 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