Australia's Envirosuite gives up gains, Bell Potter trims PT on revenue miss

Envirosuite

02/02/2024 03:00

** Shares of Australia's Envirosuite  EVS.AX  trade flat at
A$0.085 after rising as much as 1.2% earlier in the day
    ** Bell Potter cuts price target to A$0.13 from A$0.16 for
environmental impact management technology co
    ** Analysts at Bell Potter say co's quarterly total annual
recurring revenue (ARR) came in below their expectations
    ** EVS reported quarterly total ARR of A$60.1 mln ($39.61
mln), below Bell Potter's estimate of A$62.6 mln
    ** Brokerage trims FY revenue forecast by 5% for EVS 
    ** About 1.5 mln EVS shares change hands, compared with the
30-day average volume of 613,274
    ** EVS shares up 9% YTD, after falling 40% in 2023

($1 = 1.5175 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))