KSPI US (Buy, TP: $175, +35%) Kaspi Q2 24 - Solid print, lack of guide lift shouldn't surprise; e-Cars/digital Ad in focus
Kaspi reported pretty solid Q2 numbers this morning putting the company on track to hit FY 24 guide (25% net income growth). Revenue was in-line, though net income missed by 2%. Aside from this small miss, the stock disappointment today likely comes after 1/ some expectations of a guide lift given consensus had drifted up after a very strong Q1 operating performance, 2/ perhaps the steer that Q3 will be the toughest comp this year (and 3/ follows the +40% rally in the share price since Jan listing).
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