Growth Focus: Nearmap Ltd (NEA)

by Patrick Taylor



Date of Data Capture: 29/07/2020

Name: NEARMAP LTD (NEA)

Classification: Technology & IT Services

Current Price: $2.25

Market Capitalisation: $1.02 B

Forecast EBITDA Growth: 226.09%

Yield Estimate: 0.00%

Consensus Price Target: $2.73

# Covering Analysts: 7

Discount at Current Price: -21.33%

Price Target Trend (3-Month): Up-Flat +28.17%

Signal Timeframe: Quarterly-Monthly-Daily

Trend Bias: Up-Down / Long-Medium

Indicators:
Short-term: Positive-Neutral
Medium-term: Positive-Neutral
Long-term: Positive

Recommendation: Buy

Focus: Capital Growth

Set up Notes:
• We are returning to NEA as the online aerial photomapping specialist looks to shake off a period of slower 2020 growth, to chase old highs on firmer forecasting and fresh price strength.
• Performance has been mixed, with very strong growth leading into 2019 before moderating - but despite softer returns this year, forecasting sets up a strong earnings recovery trend out to 2022.
• After gaining 400% in two years, the rally ended mid-2019 and entered price consolidation, eventually falling more than 75% by March 2020 - here we find them midway through recovery and above major support with signs for a new potential longer-term uptrend emerging here.
Support ($): 2.25, 2.00, 1.75 & 1.50.
Resistance ($): 2.50, 2.75, 3.00, 3.50 & 4.00.

Disclaimer

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