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This report is an updated version of the report published on 4 September 2024 at 6:33 PM AEST.
Envirosuite Limited (ASX: EVS)
EVS is a technology company specialising in environmental intelligence for sectors including aviation, mining, industrial operations, waste management, and water treatment. By integrating advanced scientific knowledge and innovative technology with industry-specific expertise, the company delivers actionable insights.
Recommendation Rationale – SELL at AUD 0.054
EVS’ Daily Price Chart
Valuation Methodology: EV/Sales Approach (FY June'25E) (Illustrative)
EVS is expected to trade at a premium considering revenue growth in FY24, increased gross profit margin, new contract wins, and effective cost management. The following peers have been considered for valuation purposes: LiveHire Ltd (ASX: LVH), Adacel Technologies Ltd (ASX: ADA), Integrated Research Ltd (ASX: IRI), among others.
Considering that the stock has surpassed its R2 level, current trading levels, rally in share price movement, and risks associated, the share price can witness consolidation at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the closing market price of AUD 0.054, as of 4 September 2024.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 6 September 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Dividend Yield may vary as per the stock price movement.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.
Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.
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