Data#3: Buy the dip

About the author:

Nick Harris
Author name:
By Nick Harris
Job title:
Senior Analyst
Date posted:
23 August 2023, 8:00 AM
Sectors Covered:
Telecommunications, Technology

  • Despite reporting another record profit (up 22% YoY), Data#3's (ASX:DTL) FY23 PBT result was ~8% below consensus expectations, and this caused some share price weakness.
  • We see the result and outlook as positive and note management’s confidence that structural tailwinds (digitisation, Cloud & Gen Ai) combined with a largely economic resilient customer base should see DTL deliver double digit growth again in FY24.
  • We upgrade our recommendation to an Add (from Hold).

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