0458 GMT - Technology One's elevated multiple leaves the enterprise software provider with little margin for error, Macquarie analysts warn clients. They like the Australian company's pipeline strength across multiple verticals as well as its geographic spread, but they write in a note that the stock is trading at 78 times earnings on a next 12-month basis. Without a negative catalyst, they think the stock could continue to run but warn that the upside to the current pipeline looks to be priced in. Macquarie raises its target price by 11% to A$34.40 and stays neutral on the stock, which is up 5.1% at A$38.62. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 21, 2025 00:59 ET (04:59 GMT)
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