JUMBO INTERACTIVE LI

JIN
End-of-day quote. End-of-day quote  - 01/22
14.1AUD +0.28%

Jumbo Interactive : Morgans rates JIN as Add

08/26/2020 | 10:31pm

The FY20 result for Jumbo Interactive exceeded recent guidance across the board and was a strong outcome,  given the significantly weaker jackpot environment, notes Morgans.

Customer spending levels are currently elevated, and the broker believes covid-19 will continue to accelerate the digital take-up by both consumers and charities, which positions the company well for FY21 and beyond.

The company announced a ten year license extension agreement with Tabcorp Holdings ((TAH))

The company's Powered by Jumbo SaaS offering has $140m of TTV (five charities) currently under contract and the company expects to be generating revenue from all these agreements in the second half FY21.

The Add rating is maintained. The target price is increased to $13.91 from $11.58.

Sector: Consumer Services.

Target price is $13.91.Current Price is $12.91. Difference: $1.00 - (brackets indicate current price is over target). If JIN meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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