Bell Potter Price Target $11, page-45

Because it's ridiculously cheap... Net profit for the coming year will be around $40m which is about a PE of 32... Normally for high growth companies like A2M or BAL the PE can be north of 60... For some tech companies around the world the PE can be in the 100's... You need to factor in future growth, and the growth that Appen has had so far signals that they can keep it up... The share price will begin to factor in next years growth, and if they get up to $60m net profit to keep the current PE the share price will need to rise 50%... This company is dividend paying also which is rare for a tech company... Appen is also in a sector that can rise substantially in the next 5 years which should mean a premium in PE ratio but the market hasn't caught up to it yet IMO