Thursday, December 26, 2024
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Acquisition of Wannaby. On December 24, the company announced that it has entered into an agreement to acquire Wannaby from Fartech, a British e-commerce company. Wannaby is a virtual try-on technology operation that focuses on shoes and accessories, such as handbags. The addition of Wannaby’s technology is set to expand Perfect’s suite of virtual try-on capabilities.
Expanding service offering. The addition of Wannaby’s virtual try-on capabilities should open new revenue verticals. It also allows the company to provide a more all-encompassing suite of virtual try-on services to existing and perspective brand clients. We believe this will bolster the company’s competitive position and could lead to higher B2B contract values and enhanced revenue growth.
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