Booktopia Group's FY21 result was largely in line with Morgans' forecast, with the broker noting the company benefited significantly from consumer trends shifting online. Active customers were up 19% and revenue was up 35%.

Morgans considers Booktopia Group to have gained around 170 basis points of share in FY21 and views the company as well-placed to continue to gain market share given its proven ability to attract and retain customers and current and future improvements to customer offering.

The broker increases forecasts for FY22 revenue and underlying earnings by 6% and 8% respectively. 

The Add rating is retained and the target price increases to $3.72 from $3.54.

Sector: Retailing.

Target price is $3.72.Current Price is $2.82. Difference: $0.90 - (brackets indicate current price is over target). If BKG meets the Morgans target it will return approximately 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena