Rhipe (RHP) shares trade higher
RHP +7.56%: The software licencing business jumped today after increasing guidance higher following a reasonable 3rd quarter. Now with what is usually the weakest quarter behind them, sales are up 15% for the 9 months to March vs the same period in FY20. It’s Microsoft product sales remain the key driver in growth for the business and led to a 3% upgrade to operating profit guidance to be “in excess of $18m.” The underlying business is performing well, and they are set to complete the acquisition of cyber security business ‘ent’ tomorrow as Rhipe continues to build out their offering.
MM is bullish RHP
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