(Finance) – EnVent Capital Markets increased by a 5.08 euros per share (from 4.79 euros) the target price on Yolo Groupan Italian insurtech operator listed on Euronext Growth Milan, maintaining the judgment on the title to “OutperformThe potential upside is 27%. The revision of the recommendation came after the company communicated its 2022 results, which closed with total revenues of 4.6 million euros.
Analysts point out that in 2022 Yolo signed up 13 new chords of partnerships with banks, insurance companies and retailers. Pro forma total revenues for 2022, considering AllianceInsay for the full year, are €6.7 million. The company also has confirmed its confidence in pursuing strategic objectives 2022-26.
“AllianceInsay acquisition appears consistent with our anticipated trends and targets for 2023-26, which take into account both organic and M&A-driven growth – reads the research – Starting from the pro-forma revenues of 2022, we see confirmed our target of 10 million euros of revenues in 2023, as well as our subsequent projections”.
EnVent provides revenues for 10.1 million euros this year, 17.8 million next year and 35.2 million in 2025. The budget should close this year with a loss of 2.6 million euros, in 2024 with a loss of 1.9 million and in 2025 with the useful first of 1.3 million.