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Buy Intellect Design Arena; target of Rs 330: Anand Rathi

Anand Rathi is bullish on Intellect Design Arena has recommended buy rating on the stock with a target price of Rs 330 in its research report dated November 03, 2020.

November 09, 2020 / 03:14 PM IST
 
 
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Anand Rathi 's research report on Intellect Design Arena

Intellect’s focus on profitability and cash generation yielded results. It turned net cash/FCF positive and could be amplified further by revived growth in advanced markets. License revenue up 96% y/y, AMC up 12% y/y, Cloud/SaaS up 23% y/y contributed to growth, mostly driven by India and the RoW. DSO came down to 167, (FY20: 195), reflecting collection efficiency. iGCB was launched in advanced markets while iGTB saw momentum in the US.

Outlook

We are raising FY21e/22e 12%/4% on margin performance, our target to Rs330 (from Rs310) and retaining our Buy, at 25x FY22e adj. EPS.

For all recommendations report, click here

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Broker Research
first published: Nov 9, 2020 03:14 pm

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