APX 1.17% $2.59 appen limited

Jeffreries Target Price-$0.60, page-151

  1. 11,090 Posts.
    lightbulb Created with Sketch. 1388
    Stop loss liquidation.....it's a shame really.
    Have to stick with investment conviction on this one. It's one customer causing the damage seeing 30% revenue declines and if you take out the largest customer revenue declines has had an incremental improvement from 22% decline in August (~$5m) to 13% decline in October (~$2.5m). The rate of revenue decline improved from July to October where cash ebitda loss was $3.5m in August to $600k in October.
    November and December are historically strong months for the business as Big Tech has their invoice cycles and cut off for tax reasons. So it won't take much to go into break even but we need this to be confirmed in the results as that one customer has caused all sorts of chaos.
 
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