IT - Software
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Affle demonstrated resilient performance in Q1FY27 despite headwinds, supported by AI innovation, expanding developed markets, and robust CPCU model growth. We maintain our BUY rating with an unchanged target price of Rs 1,840/share.
We remain constructive on Affle 3i, supported by management's reaffirmation of ~20%+ medium-term organic growth, strong execution across key vertical, and the strategic AdColony acquisition. Factoring in sustained ~20% organic growth, potential operating leverage, and inorganic optionality, we value the stock at 40x FY28E earnings, arriving at a price target of Rs 1,860.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
