2333 GMT - Technology One's annual result shows the Australian software provider is on track to beat its accelerated revenue goal, Wilsons analysts tell clients. The company reported A$472 million in annual recurring revenue for its 2024 fiscal year, which analysts Ross Barrows and Lachlan Woods point out is within reach of its A$500 million target for the first half of fiscal 2025. Technology One has already brought that target forward from the end of fiscal 2025, they remind clients in a note. The pair see the fiscal 2024 result as very strong. Wilsons has a last-published overweight rating and A$22.28 target price on the stock. Shares are up 7.25% at A$28.70. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 18, 2024 18:33 ET (23:33 GMT)
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