Craneway (AIM:CRW), a provider of software solutions for the US healthcare sector, saw its stocks bounce on Tuesday as it announced its “return to strong sales growth” ahead of AGM.
The company said its transactions for the first four months of the fiscal year were ahead of management expectations and were “well ahead” for the same period last year. The company’s statement added:
“(We look forward to the interim revenue and adjusted EBITDA, which ends December 31, 2020, will precede the comparable period of the previous year and lay the foundation for a return to future double-digit growth. We look forward to providing details within the six-month trading update program, which ended December 31, 2020.”
The company’s value cycle software offering continues to be favored by the US hospital leadership team, and with TRISUS cloud-based software, hospitals have improved hospital operations and financial performance while improving patient outcomes. Craneway’s statement has been added:
“Each hospital that participates in the platform makes Trisus even more powerful. With the recent beta launch of the Trisus (cloud) version of its core product, the latest measures of Chargemaster Toolkit and Pharmacy Chargelink, and four live Trisus native cloud applications, we now have the ability to join the TRISUS community and provide a gateway to the wider benefits the platform can offer.
“We see great new opportunities to continue to participate in the sales pipeline, and our board is confident in the ongoing strong performance of our business.”
Following the update, Craneway shares shared almost 14%, up to 2,190pa. This price is the best since the start of the initial lockdown, but is about 25% shy about the analyst’s 2,733.33p target price.
Analysts currently have a consensus “buy” stance on equities. The P/E ratio of 35.30 is a good value for the average 72.15 for the high-tech and computing sectors. It also has a “outperform” rating of 54.39% from the MarketBeat community.
