Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagement, acquisitions and transactions through relevant mobile advertising.
"Growth in Affle’s consumer platform business was well supported by the overall consumer trends of greater time spent across connected devices, increased adoption of online payments and consistent growth in digital marketing spends across key industry verticals including e-commerce, food, travel, transport, entertainment/OTT/gaming, healthcare, BFSI/fintech, telecom and others," the management said in a statement.
Foreign brokerage firm Nomura, too, initiate coverage of Affle India with a ‘buy’ rating and a target price of Rs 1,900 per share.
The brokerage expects Affle to grow revenues/EPS at 34/39 per cent CAGRs over FY19-22F led by market share gains, especially in its focus geographies of India and emerging markets.
“We think the underlying macro is attractive in Affle’s key markets
(India & SEA), where a large internet user base, rising smartphone sales, improving data connectivity and young demographics augur well for the shift to digital. Further, as advertisers shift to direct sourcing, ad tech vendors could retain a higher share of digital ad spends, implying faster growth for ad tech vendors,” analysts said in a report.
At 12:59 pm, the stock was trading 9 per cent higher at Rs 1,517 on the BSE, as compared to a 0.19 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped five-fold with a combined 520,455 shares changing hands on the BSE and NSE so far.