Freightos (CRGO, Financial) has announced an increased partnership with Forward Air Corporation to allow freight forwarders to swiftly book less-than-truckload (LTL) and linehaul trucking services via the 7LFreight by WebCargo platform. This move is part of Freightos' strategy to create a comprehensive digital infrastructure for global freight, which facilitates seamless management of various shipment stages and services.
According to Freightos CEO Zvi Schreiber, this collaboration is in line with their growth strategy, aiming to support diverse transaction types across air, ocean, and trucking services, as well as different stages from initial pricing to last-mile delivery. The integration with Forward Air’s extensive ground network aims to enhance the efficiency of multimodal logistics in the future.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Freightos Ltd (CRGO, Financial) is $4.67 with a high estimate of $5.00 and a low estimate of $4.00. The average target implies an upside of 97.74% from the current price of $2.36. More detailed estimate data can be found on the Freightos Ltd (CRGO) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Freightos Ltd's (CRGO, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
CRGO Key Business Developments
Release Date: May 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Freightos Ltd (CRGO, Financial) reported record revenues and a 21st consecutive quarter of record transactions.
- The company facilitated over 370,000 transactions in Q1, marking a 25% increase from the previous year.
- Freightos Ltd (CRGO) added 4 new carriers to its platform, increasing the total to 71 carriers.
- The launch of the Freightos Enterprise software as a service solution creates new sales and cross-sell opportunities.
- The company achieved a gross margin improvement to 66.8% on an IFRS basis, up from 62.6% the previous year.
Negative Points
- Freightos Ltd (CRGO) is sensitive to fluctuations in trade volumes, which can impact platform transactions.
- The company experienced a dip in China-US transactions due to high tariffs, although this lane represents less than 2% of total transactions.
- Economic uncertainty or downturns can be a headwind for closing solutions revenue.
- The potential reopening of the Red Sea could lead to a drop in ocean freight rates, affecting revenue.
- Freightos Ltd (CRGO) remains cautious about further M&A activities due to a focus on preserving cash for profitability goals.
