Growth outlook already baked into the price

23 Jan 2024
5 Min read 
  • Persistent Systems reported 3QFY24 revenue of USD300.6m, in line with estimates.
  •  Deal win TCV was at a record high of USD521m, driven by strong wins and renewals in North America.
  •  EBITDA margin improved by 90bp QoQ, beating estimates, due to seasonality in IP business and SG&A optimization.
  •  Growth was led by the healthcare sector, with strong growth in medical devices.
  •  The company is confident in delivering top-quartile growth and expects further margin improvement.
  •  The stock is currently trading at a rich valuation, leaving limited upside potential.
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