30c price target - Canaccord

Below is coverage by canaccord released today with a target price of 30c. It is just a snippet of the report. I don't take a lot of notice on these reports but good to see DSE getting some coverage.


Cloud services – Overnight Price: $0.21Canaccord Genuity rates ((DSE)) as Initiation of coverage with Buy (1) –Canaccord Genuity initiates coverage on global cloud software platform Dropsuite. The company supports 575,000 active users, generating annual recurring revenue of $13.1m which has increased 79% in the last year. With small and medium entities increasingly outsourcing IT services, data suggests the cloud backup and recovery software industry is estimated to be worth US$22bn by 2025, from US$6bn in 2017. In Canaccord's view Dropsuite is a profitable, high-growth, recurring revenue model business operating in a large and increasing addressable market.The broker initiates with a Buy rating and a target price of $0.30.This report was published on December 8, 2021.Target price is $0.30 Current Price is $0.21 Difference: $0.09If DSE meets the Canaccord Genuity target it will return approximately 43% (excluding dividends, fees and charges).The company's fiscal year ends in June.