United Securities Updates Jahez International Rating, Price Target After Q2 Results

05:40 AM EDT, 09/07/2026 (MT Newswires) -- United Securities LLC revised its investment view and price target for Jahez International Co for Information System Technology (SASE:6017), following the company's second-quarter results. The lifestyle technology platform operator logged a net loss of 22 million Saudi riyals for the second quarter, compared with United Securities' forecast of a loss of 1 million riyals, according to a Sunday note. Revenue, meanwhile, rose 34.5% year over year to 763 million riyals, which surpassed the research firm's estimate by 22%. The revenue growth was attributed to higher order volumes. "Revenue exceeded expectations, but profitability and margins underperformed due to higher costs. Management retained its 2026e guidance of SAR 3.1-3.5bn revenue and SAR 10.1-10.8bn GMV. Based on the current results, we raise our 2026e revenue forecast to SAR 3.2bn (from SAR 2.7bn), while reducing our net profit to SAR 30mn (from SAR 49mn). Accordingly, we lower our target price to SAR 11.00, implying a 15.3% downside from current levels, and downgrade our rating to SELL from NEUTRAL on the stock," analysts wrote.