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?
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.
