Following a 1Q trading update, Morgans assesses solid year-on-year growth for Airtasker's domestic business and notes early signs of marketplace performance offshore.
Gross marketplace volume (GMV) rose by 82% on the previous corresponding period.
While underlying business momentum appears to be resilient, the analyst's price target falls to $0.95 from $1.05 due to slightly higher opex forecasts for the international build out and after adjusting for lower peer multiples. Add.
Sector: Media.
Target price is $0.95.Current Price is $0.34. Difference: $0.61 - (brackets indicate current price is over target). If ART meets the Morgans target it will return approximately 64% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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