Jefferies cuts PEXA Group's earnings estimate to include Smoove acquisition
21/11/2023 20:45
** Analysts at Jefferies cut PEXA Group's PXA.AX FY24
earnings estimate by 2% on acquisition of UK-based Smoove
SMV.L
** Brokerage has PT of A$14.05 on the Australian digital
property settlements platform, rates "buy"
** Brokerage says estimate cut reflects the acquisition of
Smoove, which posted loss of 4.8 mln pounds ($5.98 mln) in FY23
** "We see the headcount reduction program as a prudent
approach to respond to any potential macro weakness" - Jefferies
** Seven of 8 analysts rate the stock "buy" or higher, 1
"hold"; median PT is A$14.03 – LSEG data
** Stock down ~4% this year, as of last close
($1 = 0.8025 pounds)
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))