Logo of Naseej for Communication and Information Technology Co.
Naseej for Communication and Information Technology Co.’s (Naseej Tech) focus on the education sector as a key growth driver will boost its capabilities and further enhance its market share, said TeamOne financial and investment consultancy firm.
Naseej seeks to implement digital transformation techniques in education and knowledge management, and develop tailored solutions to capitalize on the available opportunities in this growing sector, the consultancy firm added.
Naseej has a well-established commercial identity in the information technology (IT) industry, and an extensive client base, which comprises educational institutions, government entities and major companies in the GCC and the Arab region, TeamOne indicated.
Naseej has a competitive advantage and considerable experience in developing education and knowledge asset management solutions, in addition to its track record of strategic partnerships with dominant educational and knowledge bank firms.
Based on discounted cash flow (DCF) valuation, Naseej Tech target price (TP) was set at SAR 75-80 per share, TeamOne added.
The consultancy firm expected the company to report earnings of SAR 24.8 million in 2022 and SAR 27 million in 2023.
Naseej started trading on Nomu-Parallel Market on May 24. It was established in Riyadh as a sole proprietorship in 1989. Its business portfolio includes computer programming, computer consultancy, computer facilities management, artificial intelligence technologies, augmented virtual reality technologies, big data technologies, data science and analysis, information technology services, and the sale of computers, computer peripheral equipment and software.
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