Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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The brokerage believes the recent quarterly results were fine but not great and indicated that Exa executed well, especially in license growth and margin maximization. The analysts expressed no concern over the company's revenue estimate miss by $0.4 million from their estimates, as it was within the guidance range.
The analysts remain optimistic on the issue, pointing out the mix shift toward subscription and licenses. Aside from that, the brokerage was relieved that the company maintained its full-year guidance, thus suggesting accelerated growth in the second half of the current year apart from slight enhancement in margin outlook.
"If this team can execute as we expect, which means 3+ years of 300–500 bps of annual EBITDA margin gains on mid-teens license growth, EXA shares should continue to their gradual advance. We cannot say that this quarter increased our conviction, but we remain confident in our BUY rating and continue to believe that EXA can be the kind of off-the-radar small-cap that delivers outsized returns," the analysts concluded.
Canaccord pointed out some weakness in the heavy vehicle market and believes it could be a drag on growth prospects. The brokerage expects seasonal improvements in adjusted license growth, although it was below the targeted level in the second quarter.
At time of writing, Exa was trading at $15.72, up 1.35 percent on the day.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.