TechnologyOne's 1H revenue and profit (PBT) were slight beats versus Morgan Stanley's forecasts though FY24 PBT guidance was around -2% below expectations.

Management retains longer-term guidance and the company on track to surpass $500m annual recurring revenue (ARR) by FY25.

Target $13. Equal-weight. Industry view: Attractive.

Sector: Software & Services.

Target price is $13.00.Current Price is $17.88. Difference: ($4.88) - (brackets indicate current price is over target). If TNE meets the Morgan Stanley target it will return approximately -38% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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