Avidly: More power found in the growth engine
![](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://content.inderes.se/assets/9ba4d740-71b1-4bc6-8912-c86c9b76394d.png)
By Inderes
Avidly's growth in Q2 was strong (+30%), but also controlled as profitability kept on its upward trajectory. Over the past year, the company has proven its ability to grow in a controlled way. The recovery of the market from the COVID slump has supported short-term growth, but, in our view, Avidly has also positioned well for long-term market growth. Looking forward and relying on earnings growth, the company’s valuation seems relatively neutral (2023e adj. P/E 14x) but not attractive enough for us to re-join the company’s promising growth story.
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