[ET Net News Agency, 18 March 2021] Morgan Stanley lifted its target price for Weimob
Inc (02013) to HK$25 from HK$24 and maintained its "overweight" rating.
The research house said the SaaS churn rate rose to 26% in 2020 from 22% in 2019 due to
the Covid-19 impact. Management believes this is a temporary issue and expects to see
improvement in 2021, helped by more large customers.
Weimob has a series of new product launches planned for 2021, including Weimob Cloud
PaaS product, vertical solution Smart Beauty and Smart Hotel, CRM product Xiaoke,
Marketing Cloud upgrade for WeCom, etc. It also plans to continue to increase R&D
intensity to enrich products and execute its TSO (Traffic, SaaS, Operation) strategy. (KL)