NAUKRI
MACQUARIE ON INFO EDGE : 22.06.2021
* MAINTAIN UNDERPERFORM TARGET: 4,220
* Macquarie maintains UNDERPERFORM call on Info Edge, target at Rs 4,220/sh
* Sequential Improvement In Core Business Continued
* Cash Balances Piles Up With Co Evaluating Investment Opportunities
* FY22-23 EPS Estimates See A revision of Less Than 1%
GS ON INFO EDGE : 22.06.2021
* MAINTAIN SELL TARGET: 2,760
* Goldman Sachs maintains SELL call on Info Edge, target at Rs 2,760/sh
* Raise FY22-24 Revenue Estimates By Up To 4%
* Have A Strong Outlook For Recruitment Biz
* Well Placed To Capture Upside From B2B Spends In India Moving To Digital
* See A Mismatch Between Growth Outlook & Valuations
* Co Trades At 88x 12m-fwd EV/EBITDA Vs Global Classifieds Median Of 24x
CLSA ON INFOEDGE : 22.06.2021
• Maintain Outperform, Target at Rs 5,740/share
* Stronger-than-expected billings indicate demand recovery is on track
• Info Edge reported headline financials below estimates in Q4'21
* Management indicating a limited impact of Wave-2 in Q1'22
* Expect revenue growth to bounce back sharply by Q2'22
* Operating leverage in the business model should ensure its flow-through into margins
* 2 larger investee companies - Zomato and Policybazaar
CLSA ON INFO EDGE : 22.06.2021
* MAINTAIN OUTPERFORM TARGET: 5,470
* CLSA maintains OUTPERFORM call on Info Edge, expects co's revenue growth to bounce back sharply by Q2
* Expect Revenue Growth To Bounce Back Sharply By Q2
* Operating Leverage In Biz Model Should Ensure Its Flow-through Into Margin
* Zomato & Policybazaar Are Actively Working On Public Listing
* Management Remains On Lookout For Consolidation Or Expansion
