Canaccord Genuity lowers target price on Bango
By Iain Gilbert
Date: Tuesday 20 Jan 2026
(Sharecast News) - Analysts at Canaccord Genuity lowered their target price on software firm Bango from 244p to 212p on Tuesday following the group's full-year trading update.
Canaccord Genuity said Bango's FY25 trading update pointed to "continued strong growth in recurring revenues, opex and capex reductions", but also noted that it retealed a $1.1m foreign currency headwind for profits.
Annual recurring revenues increased 30% year-on-year to $18.2m and following another top three telco win in the fourth quarter, the Canadian bank noted that Bango now counts seven of the top eight US telcos as customers. Transactional revenues declined 8% year-on-year, but transactional gross profits increased 3%.
"Overall, FY25 was another important year in establishing a highly profitable transactional business and continuing to win and scale Digital Vending Machine ('DVM') revenues, with a strong pipeline of new opportunities heading into FY26," said Canaccord, which reiterated its 'buy' rating on the stock.
"We view FY26 as a pivotal year given the strong implied revenue and profit growth, swing to positive FCF, all of which we believe are not currently being priced in by the market."
Reporting by Iain Gilbert at Sharecast.com
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