In the wake of a 1Q trading update, Morgans lowers its FY23 and FY24 revenue estimates for LiveHire by -2% and -6%, respectively, on a slower-than-forecast increase in net new clients. The target falls to $0.33 from $0.36.

The broker still managed to see promising underlying momentum for the business  in the 1Q, with the SaaS unit growing revenue by 29% on the previous corresponding period. The Add rating is unchanged.

Sector: Software & Services.

Target price is $0.33.Current Price is $0.22. Difference: $0.11 - (brackets indicate current price is over target). If LVH meets the Morgans target it will return approximately 33% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena