Camplify reported in line with a recent update. First half gross transaction value was up 62% year on year, with total revenue up 109%, highlighting a very strong take-rate, Morgans notes.

The gross margin was impacted by an insurance revenue accounting policy change made to meet new standards. This change leads the broker to lower earnings forecasts and cut its target to $4.75 from $5.04.

While acknowledging current global macro and geopolitical concerns may weigh on market sentiment near term, Morgans believes Camplify has a long growth pathway ahead of it and a strong management team. Add maintained.

Sector: Materials.

Target price is $4.75.Current Price is $3.13. Difference: $1.62 - (brackets indicate current price is over target). If CHL meets the Morgans target it will return approximately 34% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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