Appen's China business looks undervalued compared with local peers, Jefferies analyst Wei Sim says. He says in a note to clients that Appen is trading at just 0.8 times fiscal 2022 sales, while rivals SpeechOcean and DataTang are trading at about 25 times and 9 times, respectively. Valuing Appen's China business, which is No. 2 to SpeechOcean in the local data-annotation market, at between 9 and 25 times sales would imply a market cap of US$300M-US$840M, Sim says. The whole of the Australian company is currently valued at about US$300M, he adds.
Appen China business
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$1.51 |
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Mkt cap ! $331.2M | |||
| Open | High | Low | Value | Volume |
| $1.54 | $1.60 | $1.46 | $26.01M | 16.88M |
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| No. | Vol. | Price($) |
|---|---|---|
| 11 | 63578 | $1.51 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.51 | 30811 | 8 |
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