Prabhudas Lilladher has given Buy recommendation for Affle (India) with a target price of Rs. 1496 in its research report issued on Dec 14, 2021
Prabhudas Lilladher’s research report on Affle (India)
Our DCF based TP is INR 1496 (implied earnings multiple of 63.3x on FY24EPS). Affle having strong 37% EPS CAGR over FY22-24E is trading at 1.8x/1.2x on FY23/24 PEG, ~50-60% discount to IndiaMART (3.5x/3x on FY23/24 PEG) and Info Edge 3.8x/3.0x on FY23/24 PEG). In terms of P/E it is trading at 66.7x/45.6x on FY23/24 EPS of 16/24 with revenue/EPS CAGR of 39%/37% over FY22-24E.