Meanwhile, over the medium term, analysts at ICICI Securities believe Affle could sustain ~20 per cent revenue compound annual growth rate (CAGR), supported by rising CPCU realisations, international expansion, and scaling of new verticals such as CTV. The brokerage firm estimates Ebitda margins to be resilient in the 22-24 per cent range. Conversely, downside is limited by its strong operating cash flows, providing a balanced risk-reward profile. On September 7, 2025, ICICI Securities initiated coverage on Affle with a 'Buy' rating and a target price of ₹2,280.