Money Forward (3994 JP): Raising Our Rating to Buy. Cash Is King
Our new target price 4,000 yen; Raising our rating to Buy. We believe that market participants have become increasingly concerned about the...
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Money Forward (3994): Large Additional Investment in Indonesian SaaS Company
The company has made multiple investments in Mekari since its first investment in 2018. This investment is a large one, equivalent to approximately...
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Money Forward (3994): 1Q SaaS ARR on Steady Growth, Upfront Investments Lagging
On April 13, Money Forward (3994, the company) announced 1Q (Dec-Feb) FY11/22 sales of 4.756bn yen (+37.2% YoY), EBITDA of -1.159bn yen (vs. 358m...
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Money Forward (3994): Announced Upward Revision of 1Q Guidance
Upward revision of sales and profit guidance. A mix of good and bad news. The company raised its sales guidance by 350m yen and raised its EBITDA...
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Money Forward (3994): SaaS & Fintech Combined. Initiating Coverage with a Hold
We initiate coverage of Money Forward, Inc. (3994, Money Forward, the company) with a target price of 5,650 yen and a Hold rating.
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