It was very difficult to see what prompted the 15% fall in the share price of GetBusy PLC (AIM:GETB), which reported half-year results that met market expectations and provided a relatively upbeat assessment of prospects.
Its broker finnCap weighed in with a modest upgrade to its sales forecast for the group, which specialises in digital asset and document management.
finnCap reiterated its full-year 2023 and ’24 forecasts of EBITDA, EPS and net cash, adding that it “look[ed] forward to strong operating and financial momentum continuing through 2023 and 2024, the announcement of material new channel partners, and attractively valued M&A opportunities”.
Analysts Michael Hill’s organic revenue growth prediction has been tweaked to 11% and 9% for the next two years from 8% prior for both periods.
At 9.44 am, the stock was changing hands for 67.35p, down 11.65p.