While Morgans liked Rightcrowd's strong 2Q annual recurring revenues, up 50% year-on-year, the target falls to $0.26 from $0.37 after the recent multiple compression of technology peers. A slightly lower FY24 earnings forecast also negatively impacted the target price.

The 2Q results confirm to the analyst that busisness momentum is intact, a point which gives management comfort on executing medium-term plans, including proftability by the end of FY23.

Sector: Software & Services.

Target price is $0.26.Current Price is $0.18. Difference: $0.08 - (brackets indicate current price is over target). If RCW meets the Morgans target it will return approximately 31% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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