Affle 3I Ltd. share price target

We recommend a BUY on the stock and assign 49x P/E multiple to its FY24E earnings of Rs 29.46/share which gives a TP of Rs 1,450/share, implying an upside potential of 15% from CMP.

Q3 revenue growth at 24% QoQ and 126% YoY the highest ever in AFFLE's history led by rise in CPCU and user volumes

Affle's focus on developing innovative technologies 1) multiple vernacular language detection, 2) household sync technology, 3) gesture-based, voiceintelligence driven interactions within the live streams such as podcasts, 4) block-chain based technology IP for ad-fraud detection etc. positions it well to navigate changes in dynamic digital advertising industry. Affle thrived post implementation of stringent data privacy policy by iOS by being early adopter...

engagement through mobile advertising. Affle's end-to-end integrated mobile marketing platform with deep learning AI (artificial intelligence)...

We recommend a BUY on the stock and assign 75x P/E multiple to its FY23E earnings of Rs 17.9/share which gives a TP of Rs 1,350/share, implying an upside potential of 15% from CMP.

Affle reported exceptionally strong revenue growth +103.6% YoY much above our & cons estimates (Ple: 66.6%, Cons: 68%) led by strong growth in organic business (34% YoY) as well as Jampp (revenue of ~INR 824 mn, ~50% above pre-acquisition quarterly revenue run-rate of ~INR 545 mn). This reflects...

Mobile is now preferred channel for digital advertising Surge in e-commerce driving digital ad-spends E-commerce growth story in charts Focus on fast growing emerging markets Focus on fast growing emerging markets Huge growth potential in Emerging markets Indian digital ad industry size is significantly lower than global average Digital Advertising market potential is huge...

Ecosystem-level partnerships fortify AFFLE's defense against data/ privacy risk

We recommend a BUY on the stock and assign 56x P/E multiple to its FY23E earnings of Rs 86.3/share which gives a TP of Rs 4,790/share, implying an upside potential of 15%.