01:29 PM EDT, 05/23/2024 (MT Newswires) -- Computer Modelling Group ( CMDXF ) reported Q4 2024 results that were modestly below BMO and consensus estimates. Margins compressed across both its Bluware and CMG platforms, but revenue growth continues to impress, writes analyst John Gibson.

The company also pointed towards M&A as being a priority, although CMG is exercising discipline in this area.

"We continue to like many elements of CMG given increasingly complex reservoirs and international growth, although valuation remains the main obstacle underpinning our Market Perform rating."

Reiterate $11.50 target price.

Price: 11.42, Change: +0.76, Percent Change: +7.13