Darktrace (DARK)

Sector:

IT Services

Index:

FTSE 250

436.80p
   
  • Change Today:
      8.80p
  • 52 Week High: 490.40
  • 52 Week Low: 239.30
  • Currency: UK Pounds
  • Shares Issued: 700.36m
  • Volume: 1,076,781
  • Market Cap: £3,059.17m

Morgan Stanley says broader growth story intact at Darktrace, upgrades

By Alexander Bueso

Date: Wednesday 25 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Morgan Stanley upgraded their recommendation for shares of Darktrace from 'equalweight' to 'overweight', arguing that the "broader growth story remained intact".
In their opinion, the slowdown seen in constant currency annual recurring revenues over recent quarters - which they had anticipated - was mostly the result of tougher comparables and macro factors.

"Macro weakness bites: In our initiation last September, we flagged that - while we were confident in Darktrace's product and market positioning - there were several factors that kept us Equal-weight.

"One of these was the potential for purchases of Darktrace's relatively greenfield platform to be more discretionary in a tougher macro environment,and that this could lead to deferral of purchase decisions. We see evidence of this playing out [... ]," the analysts said in a research note sent to clients.

"Combined with the most recent company guidance being "sufficiently cautious" and with the shares changing hands on approximately 2.1 times their estimate for its 2024 enterprise value-to-sales, the valuation was "sufficiently cheap".

Morgan Stanley did however trim its target price for the shares from 425.0p to 410.0p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Darktrace Market Data

Currency UK Pounds
Share Price 436.80p
Change Today 8.80p
% Change 2.06 %
52 Week High 490.40
52 Week Low 239.30
Volume 1,076,781
Shares Issued 700.36m
Market Cap £3,059.17m

Darktrace Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.43% below the market average87.43% below the market average87.43% below the market average87.43% below the market average87.43% below the market average
62.35% below the sector average62.35% below the sector average62.35% below the sector average62.35% below the sector average62.35% below the sector average
Price Trend
65.26% above the market average65.26% above the market average65.26% above the market average65.26% above the market average65.26% above the market average
57.45% above the sector average57.45% above the sector average57.45% above the sector average57.45% above the sector average57.45% above the sector average
Income Not Available
Growth
80.01% above the market average80.01% above the market average80.01% above the market average80.01% above the market average80.01% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average

Darktrace Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 516,693 @ 436.80p
16:35 635 @ 436.80p
16:35 932 @ 436.80p
16:35 826 @ 436.80p
16:35 1,500 @ 436.80p

Darktrace Key Personnel

CEO Poppy Gustafsson
CFO Catherine Graham

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