Jeffreries Target Price-$0.60, page-47

Company's balance sheet is back to where it was in 2018 pre Figure eight acquisition.
Figure eight acquisition was a response to Big Tech demand for data for Ad spend and Appen cornered that market. Intangibles is off the balance sheet and cost run rate is off the income statements.
It's a smaller but leaner balance sheet. Restructuring and rebuilding businesses is nothing new I don't think anyone knows how it looks with no precedent business cycles.
APPL almost went bust in 1996 and Microsoft was paying 5% dividend with a declining shareprice for almost 10 years as tech peaked as the internet was being adopted.
Appen has a great opportunity to build a business with revenue visibility