From the MF shares have caught the eye of analysts… August 24,...

From the MF

shares have caught the eye of analysts…

August 24, 2021

James Mickleboro

Nearmap Ltd (ASX: NEA)

The first ASX share to look at is Nearmap. It is an aerial imagery technology and location data company with operations in Australia and North America. Nearmap’s products give businesses instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools.

Last week the company released its full year results and revealed annual contract value (ACV) grow of 26% to $128.2 million. This was driven by strong growth in its North American business, which reported ACV of US$44.5 million. This was up 54% from US$28.8 million a year ago.

Looking ahead, while no guidance was given with its results, management has a long term growth target in place. This is for ACV growth of 20% to 40% per annum, with underlying churn of less than 10%.

Morgan Stanley remains very positive on the company. Last week it retained its overweight rating and $3.20 price target on the company’s shares. This compares to the latest Nearmap share price of $2.10.

Nearmap Ltd (ASX: NEA)

August 23, 2021

The Nearmap share price is rebounding after Friday’s sell-off, with a 7.38% gain to $2.11. While the aerial imagery specialist hasn’t released any market sensitive news, it did report its FY21 results last week.

Nearmap cited robust growth across key metrics, and is planning for an even bigger year ahead.