Megaport's September-quarter report pleased Morgans, outpacing the broker on some metrics.

The company's annual recurring revenue has breached $100m, a major milestone achieved through direct sales.

The broker expects sales to accelerate in the March quarter and beyond given recent investment in the commercial offering, product and engineering. 

While long term bulls, Morgans retains a Hold rating, hoping to secure a better opportunity over the year. Target price is steady at $17.71.

Sector: Software & Services.

Target price is $17.71.Current Price is $17.55. Difference: $0.16 - (brackets indicate current price is over target). If MP1 meets the Morgans target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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