While Megaport's 2Q revenue and earnings beat consensus expectations by 3% and 25%, respectively, management maintained FY24 guidance, as 2H earnings and net cash flow be impacted by an increased headcount, explains Morgan Stanley.
The broker expects overall cash flow will improve, as management lowered FY24 capex guidance to
Key KPI growth remains muted, according to the analysts, with quarter-on-quarter growth for customers, ports and total services of 1%, 2% and 3%, respectively.
Equal-weight. Target
Sector: Software & Services.
Target price is
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