《大行報告》野村引述明源雲(00909.HK)管理層指本季營運未受內房行業走弱影響 無需調整收入指引
野村發表研究報告,指明源雲(00909.HK)近期股價調整,過去60月累跌約37.5%,跑輸同期恆指跌14.4%。該行鍼對投資者最關心問題作出解答,目標價維持39元,評級「買入」。
該行指出,雖然內房行業持續積弱,但公司業務本季至今並無受影響,認爲無需要調整其三年收入指引,因應上半年表現較預期強勁,管理層料2021財年旗下SaaS收入增長達50%,ERP收入增長達15%。
野村引述管理層指,下半年及未來數年有數個增長引擎,包括CRM雲業務的ARPU持續增長,及滲透至偏遠城市;建築及採購雲產品組合優化,加快滲透至內房供應鏈;對滲透有限的分支市場如國有資產管理市場解決方案業務亦見起步。公司亦推出更多創新產品,如私人伺服器等,讓內房客戶更佳管理客戶資產。
該行又稱,管理層指國企目前在其內房供應鏈中扮演十分重要角色,特別是非住宅市場方面,公司將強化其資產管理SaaS產品,同時亦見國企客戶對其他核心產品如ERP及CRM雲端需求上升。
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