The Dicker Data Ltd (ASX: DDR) share price has descended slightly in the past month, but could it go ahead in the future?
The company's share price has lost 1.41% in the last month and is currently trading at $11.19. In today's trading, the company's share price closed 2.01% lower.
So what is the outlook for the Dicker Data share price?
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What is ahead?
Dicker Data is an Australian technology company that supplies software, cloud, and computer hardware products to major international companies.
Morgan Stanley analysts have recently placed a $16 price target on the company's shares and maintained an overweight rating. At its current level, this represents nearly 43% upside for the Dicker Data share price.
Further, Morgan Stanley is predicting Dicker Data could provide a fully franked dividend of 48.5 cents in FY 2023. In FY 2022, the broker forecasts a 41.4 cent dividend.
Meanwhile, Airlie Funds Management analysts have recently predicted Dicker Data's prospects "should remain strong". Portfolio manager Matt Williams said:
No matter the upcoming economic conditions, we think the path to digitisation won't be affected… [O]ver the past seven years, sales and profits have compounded annually at 16% and 20% respectively.
Dicker Data recently updated the market on its unaudited results for H1 2022. According to the report, revenue growth is up 36% on the prior corresponding period.
Earnings before interest, tax, depreciation and amortisation (EBITDA) has also grown 20% in the same timeframe from $51 million to $61 million.
The company will hold a webcast of its F22 half-year results on 30 August.
Share price snapshot
The Dicker Data share price slumped nearly more than 24% in the year to date but lost just 0.53% in the past year.
For perspective, the S&P/ASX All Technology Index (ASX: XTX) has shed nearly 26% in a year and almost 29% year to date.
Dicker Data has a market capitalisation of more than $1.9 billion based on the current share price.
