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Wecommerce Holdings Ltd
Symbol WE
Shares Issued 39,807,235
Close 2021-11-25 C$ 13.03
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Globe says Wecommerce Holdings kept at "buy"

2021-11-25 08:16 ET - In the News

The Globe and Mail reports in its Thursday, Nov. 25, edition that Canaccord Genuity analyst Robert Young continues to rank Wecommerce Holdings "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Young trimmed his share target back by $2 to $18, matching the current consensus. Mr. Young says in a note: "Wecommerce reported a modest miss on our third quarter revenue and EBITDA estimates primarily due to a shortfall in agency services revenue that was impacted by two cancelled projects from a single client, which are likely to be pushed into 2022. Themes was impacted by new Shopify rules coming into force, which permit themes to be sold either on or off the Shopify site. Recently-acquired Archetype Themes outperformed our expectations while Stamped continued its impressive growth trajectory in the quarter. Consistent with the quarterly disclosure, we have recalibrated Archetype revenue lower to a $2.8-million to $3-million quarterly run rate, which leads to lower Q4 and 2022 revenue estimates. We believe Wecommerce s EBITDA margin will be in the low 30-per-cent range in the near-term with free cash expected to be reinvested in the company's growth engine."

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