Citi slashes PT on Australia's Appen as Google dumps contract
Jan 22, 2024 at 11:16 pm GMT
** Analysts at Citi slash PT on Australia's embattled artificial intelligence data services firm Appen APX.AX to A$0.26 from A$1.23
** Shares of Appen hit their record low on Monday after it lost key contract with Alphabet's GOOGL.O Google which delivered APX $82.8 mln in revenue in FY23
** Citi maintains "sell" rating, says loss of the contract with Google raises further concerns around the market fit of company's products
** Increasing market competition can be a factor behind recent revenue weakness around its business with Meta Platforms-owned META.O Facebook - brokerage
** Appen stock fell 71.4% in 2023
Ann: Customer update and FY23 preliminary results, page-203
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Last
67.0¢ |
Change
0.240(55.8%) |
Mkt cap ! $149.4M | |||
| Open | High | Low | Value | Volume |
| 55.0¢ | 70.0¢ | 51.5¢ | $19.06M | 31.20M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 110000 | 66.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 67.0¢ | 40500 | 2 |
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