KFin Technologies stock jumps over 7%, Jefferies maintains buy - check target price
Brokerage firm Jefferies has maintained a buy call on the stock and raised the target by Rs 60 each to Rs 760 from Rs 700.
KFin Technologies Share Price: Shares of KFin Technologies Ltd, a SaaS-based digital services provider, jumped 7.6 per cent in the morning session today, February 21, on BSE.
On Tuesday, the company's shares settled at Rs 639.85 each on BSE. At 11.02 am on Wednesday, shares of KFin Technologies, which is the largest investor solutions provider to Indian mutual funds, were trading at Rs 661.65 apiece, up 3.41 per cent, having touched the day's high of Rs 688.40.
Meanwhile, KFin Technologies' shares last exchanged hands at Rs 652.25 each, up 1.94 per cent today on BSE.
Should you buy or sell the stock?
Brokerage firm Jefferies has maintained a 'buy' call on the stock and raised the target by Rs 60 each to Rs 760 from Rs 700.
Jefferies noted that the company's higher growth from international operations, AIFs, and value-added, or analytics services should aid higher growth in FY25-26. It has raised its EPS estimation by 2-4 per cent.
"Stronger cashflows & pragmatic view will likely anchor inorganic opportunities," the brokerage added.
A look at KFin Technologies' Q3FY24 results
The tech company KFin has recorded a 25.2 per cent YoY growth in consolidated net profit at Rs 66.8 crore for the quarter ended on December 31, 2023 (Q3FY24).
According to the company, its consolidated revenue from operations was Rs 218.7 crore, which jumped 16.3 per cent over the corresponding period last fiscal. KFin Technologies' issuer solutions segment had 21.7 per cent YoY growth at Rs 37.5 crore, while its international and other investor solutions business increased by 28.3 per cent to Rs 21.6 crore during the quarter.
KFin Technologies share price: Past performance
The company's shares jumped more than 15 per cent last month, while in a year, they have gained almost 98 per cent.
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