Ord Minnett cuts revenue, earnings estimates and PT for NextED Group

Nexted

18/08/2023 24:18

** Analysts at Ord Minnett cut price target on Australia's
NextEd Group  NXD.AX  to A$1.15/share from A$1.65
    ** Says the educational tech services provider's recent
trading update was weaker than market expected, especially in
relation to FY24 outlook
    ** Brokerage lowers FY24 revenue estimates on the co by 14%,
and by 15% for FY25
    ** Cuts EBITDA forecasts for FY24 by 33%
    ** As of last close, stock had fallen 25.4% this year 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))