Analyst Andrew Wade of Jefferies maintained a Buy rating on Pinewood Technologies (PINE – Research Report), retaining the price target of p575.00.
Andrew Wade has given his Buy rating due to a combination of factors that highlight Pinewood Technologies’ strong performance and promising future. The company’s fiscal year 2024 results were in line with expectations, showcasing a year of significant achievements. Key developments include the successful separation from Pendragon, the flawless implementation of the Lithia UK rollout, and a notable increase in user numbers by 6% to 35.2k. Additionally, Pinewood’s rebranding to Pinewood.AI and the securing of a new UK contract with Marshalls underscore its strategic advancements.
Furthermore, Pinewood Technologies has made substantial progress post-year-end, including securing its largest contract with Global Auto Holdings and acquiring the automotive AI SaaS provider Seez. These strategic moves, along with the formal upgrade to FY27 EBITDA guidance, suggest a well-established platform for future growth. The company’s ability to deliver on its standalone agenda and the positive outlook on its deal pipeline further support the Buy rating, indicating confidence in its continued success and expansion.