Recent Research

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  FIRST LOOK NOTES

  05 Mar 2025

  Alef Education Holding PLC

  BUY

  Last Closing Price

  AED 1.09

  Target Price

  AED 1.70

  Upside (%)

  +55.96%

  UAE Equity Research - Alef Education Holding PLC (ALEFEDT) 4Q24 - First Look Note

  Alef Education is included in MSCI UAE Small Cap Index. The number of paid schools served increased from 82 in 2023 to 167 in 2024 in B2B segment. The Company holds a 25% to 30% market share in the UAE's B2B segment.

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• 

  FIRST LOOK NOTES

  11 Nov 2024

  Alef Education Holding PLC

  BUY

  Last Closing Price

  AED 1.18

  Target Price

  AED 1.70

  Upside (%)

  +44.07%

  UAE Equity Research - Alef Education Holding PLC (ALEFEDT) 3Q24 - First Look Note

  Paid an interim dividend of AED 204 Mn in 3Q24. Alef Education B2G segment has a robust pipeline of strategic clients, featuring two deals in the final stage, worth AED 100 Mn. In the B2B segment doubled the number of paying schools from 82 in 2Q24 to 164 in 3Q24 growing the paying students by 76%.

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• 

  FIRST LOOK NOTES

  12 Oct 2024

  Alef Education Holding PLC

  BUY

  Last Closing Price

  AED 1.23

  Target Price

  AED 1.70

  Upside (%)

  +38.21%

  Long term contracts offset the discontinuation of income from financial asset portfolio

  Paid users stood at 151k, of which B2B and B2G accounted for 45% and 55%, respectively in 1H24.

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• 

  INITIAL COVERAGE (EQUITIES)

  26 Jul 2024

  Alef Education Holding PLC

  BUY

  Last Closing Price

  AED 1.19

  Target Price

  AED 1.70

  Upside (%)

  +42.86%

  UAE Equity Research - Alef Education Holding PLC - Initiation Coverage

  We initiate coverage on Alef Education Holding PLC (“Alef Education” or “the Company”) with a valuation of AED 1.70 per share. Alef Education is listed on the ADX and is a leading global EdTech company that utilizes artificial intelligence and machine learning technologies to create personalized learning experiences for both public and private schools in the UAE.

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