Post by
ABP123 on Jul 02, 2024 2:32pm
Cormark Drops Target to $41.00 from $45.00
Must admit I am not surprised that someone did this. When I first read the earnings release last Thursday evening, I groaned. While pleased with the EBITDA Margin increase forecast, I was hoping for a higher EPS in Q4 and higher revenue guidance growth for FY25. They certainly seem to have a problem getting the EPS up. The recent staff cuts should help plus increase in higher margin SaaS revenue. However the Professional Services revenue looks like it will be a drag on things. I would really love more clarity on this segment and how it really fits into the Tecsys Ecosystem so to speak. Maybe I just missed something?
I thought the C Call was good and there certainly was a lot of analyst interest. I guess we will have to wait until the Q1 numbers get released in early Sept to see how things are shaking out. Barring some kind of material release, I guess the SP will be stuck until Q1 clarity.