Latent View Analytics Ltd. share price target

LatentView (LATENTVI) reported revenue decline of 3.5% QoQ USD, led by client-specific issues and volatility in project-based nature of revenue (~15–18% of revenue).

Investments in AI & leadership hiring to strengthen competitive positioning: Latent View is accelerating investments across AI CoE, senior leadership hiring (for AI CoE & Databricks practice including a potential CTO), forward-deployed engineering talent & agentic AI capabilities to position itself for next phase of enterprise AI adoption. Also, investment in Healtheon AI (USD 3mn) to build healthcare-focused agentic AI solutions, shall expand long-term optionality in verticalized AI platforms. Management expects these investments and higher GTM spends to keep FY27 EBITDA margins range-bound at 21-22%, though...

LATENTVI reported Q4 revenue of US$31.4mn, marginally below our est., while adj. EBITDA stood at 24.1% missed our estimate of 26% due to continued investments in senior leadership hiring, AI capabilities, and partnership expansion. FY26 revenue of US$120mn was broadly in line with management aspirations despite continued weakness in Technology vertical (up 9.5% YoY), while non-Tech segments delivered strong ~41% growth led by BFSI. The negative impact on Technology vertical (vendor consolidation and insourcing by top client) would lead to ~US$6.5-7mn annualised revenue hit in FY27E. However, it expects to partly (50-60%) recoup the leakage...

We interacted with the management of LATENTVI (LV). As per the management, the changing AI landscape is likely to put pressure on the Diagnostics segment (60% of revenue), especially in technical areas, while the Domain and Consulting segments should maintain a steady state. Traction in Data Engineering remains strong, aided by the Databricks partnership and expanding avenues around Snowflake and GCP, which are expected to accelerate further as enterprises receive boardroom mandates to make their...

BFSI momentum driving scalable, visible growth: The growth was driven by BFSI (16% mix) which expanded 23% QoQ, with rising share of revenue and strong scaling in recently added accounts. Management has guided for FY26 revenue of $119120 mn, implying ~1920% YoY growth. Financial Services is expected to remain the primary growth engine into FY27, supporting the long-term aspiration of reaching US$200 mn revenue by FY28. Renewals are healthy, pricing has held firm (including select price increases), and multistakeholder penetration in large BFSI accounts supports improving revenue...

We upgrade LatentView Analytics (LATENTVI) to BUY (from Add) with a revised TP of INR 560 (vs. INR 480) on an unchanged P/E of 38x FY28E EPS of INR 14.9 (roll-forward by two quarters).

Synergies from Decision Point & operational rigor supporting margins: Postacquisition synergies with Decision Point are driving strong traction in CPG and nearshore markets. The firm plans to scale its nearshore headcount from 20 to 100 over the next year to support localized delivery. Despite higher visa and marketing costs, EBITDA margins remain stable at 2223%, backed by improved utilization and operational efficiency. EBITDA margin guidance for FY26, was revised to 2223% from 23-24% earlier due to focused account initiatives and capability investments in AI CoE and Databricks which should further sustain growth and profitability. Thus, we have baked in EBITDA...

Making significant investments in Databricks partnership & AI-driven analytics We interacted with the CFO of LATENTVIEW (LV). The management is confident of achieving high teens revenue growth with steady margin in FY26. The company is doubling down on scaling focused accounts, especially in the band of USD1mn to USD6mn. The investments in hiring senior personnels and account managers were put in place to connect direct decision makers and CXOs of Fortune 500 clients. The intent is to drive referrals, touch upon multiple business functions, and co-create client solutions with focused accounts,...

About the stock: Latent View Analytics is the leading pure play data analytics services companies in India. It provides expertise on the entire value chain of data analytics from data and analytics consulting to business analytics and insights,...

76 Equity Shares and in multiples thereof. Public issue of 30,456,853 Equity shares of Face value Re. 1 each, (Comprising of fresh issue of 24,060,914 Equity Shares* (Rs. 474 cr.) and Offer for Sale of...

IPO note

Issue Open: Nov 10 Nov 12 2021 Price Band: Rs. 190 197 (Discount of Rs 19 for all eligible employees) Issue Size: Rs 600 cr (Fresh issue of Rs 474 cr+ offer for sale of Rs 126 crs) Reservation for: QIB atleast 75% eq sh Non Institutional Upto 15% eq sh Retail Upto 10% eq sh *Employee Upto 3,04,569 eq sh Latent View Analytics Limited - IPO Note

Latent View Analytics Ltd is a pure-play analytics company that provides services ranging from data & analytics consulting, business analytics & insights, advanced predictive analytics, data engineering, and digital solutions. It caters to blue-chip clients in Technology (63% of FY21 revenue), BFSI (10%), CPG & Retail (10%) and, Industrial (18%) verticals and has 30+ Fortune