Australia's PEXA Group slumps as annual profit misses estimates

PEXA

25/08/2023 02:36

** Shares of PEXA Group  PXA.AX  slump as much as 11% to
A$11.21, marking their biggest ever intraday pct drop 
    ** Digital property settlements platform posts net profit
after tax attributable of A$17.6 mln ($11.29 mln) for the year
ended June 30, below UBS estimate of A$43.3 mln
    ** FY business revenue A$283.4 mln vs A$279.8 mln posted
last year 
    ** Stock hits lowest level since June 20, 2022
    ** More than 482,200 shares change hands, compared with the
30-day average volume of 423,533
    ** Stock has declined 9.2% so far in the week, set for its
worst week since September last year
    ** Seven analysts rate the stock "buy" or higher and 2
"sell"; their median PT is A$15.20 – Refinitiv data
    ** Stock up 5.4% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))