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On Tuesday, Jefferies began coverage on Sansan Inc (4443:JP), a Japanese Software (ETR:SOWGn) as a Service (SaaS) provider, with a Buy rating and a price target of JPY2,400.00. The new rating and price target come as the firm recognizes Sansan's consistent performance in achieving its company goals and expanding its business.
Sansan has distinguished itself within the SaaS sector by leveraging its data and customer acquisition strategies, particularly through the use of Japanese name cards, known as Meishi, which are considered an essential business tool in Japan. Jefferies highlights the importance of Meishi in Sansan's growth trajectory and the potential for further expansion.
The analyst from Jefferies sees potential for increased contracting in Sansan's division that handles these name cards. The growth is anticipated to positively impact Bill-One, Sansan's contract management side, benefiting from the company's near-perfect scanning technology. This technology has been a cornerstone of Sansan's success, allowing for the seamless digitization of business cards and efficient management of professional contacts.
Sansan's approach to customer and data acquisition has been instrumental in its growth, with the company effectively capitalizing on the cultural significance of Meishi in Japan. The research firm's positive outlook suggests confidence in Sansan's ability to continue this trajectory and expand its services further.
The price target set by Jefferies indicates a positive outlook for Sansan's stock, reflecting the firm's belief in the company's capacity to grow and deliver value to its shareholders. As Sansan continues to innovate and expand its offerings, investors will be watching closely to see if the company can meet these expectations and solidify its position in the SaaS market.
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