Jumbo Interactive's  FY21 result was in line with Morgans' forecasts and consensus, with group TTV up 37.0%, revenue up 17.1%, and underlying earnings of $48.9m up 14.7% year-on-year.

Management flagged that a 'step up'  in investment is expected in FY22 to support the company's domestic and offshore growth strategy and reduce execution risk.

While organic B2B/B2G contracts can take time to execute, the broker continues to believe Jumbo is well placed to grow its SaaS/MS businesses over time, which remain exposed to large, global addressable markets affording a long runway of potential growth.

Add retained. Target is increased to $17.10 from $14.78.

Sector: Consumer Services.

Target price is $17.10.Current Price is $14.92. Difference: $2.18 - (brackets indicate current price is over target). If JIN meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena