(Finance) – EnVent Capital Markets has lowered a 19.30 euros per share (from 19.36 euros) on target price up Spindoxa company listed on Euronext Growth Milan and active in the market of ICT (Information & Communication Technology) services and products, and judgement on the title a “Outperform“from” Neutral. “The review of the recommendation came after the company approved its 2021 budget, which was characterized by accelerating sales growth and increasing profitability.” Most of the results were in line or slightly. better than our latest estimates, aside from Net Cash, “says EnVent.
Analysts highlight that the stock has gained 93% since the IPO in July 2021, peaking at € 20.80 per share, outperforming the Italia Growth index. “Spindox trade at a discount compared to competitors and we recognize a clear growth path to reduce the gap – it is emphasized – The increase in the sales share of the Artificial Intelligence Technology sector, as well as the full exploitation of the opportunities deriving from recent (and expected) acquisitions are consistent with the strategy and the potential of the company “.
EnVent expects the company to close fiscal year 2022 with revenues for 84.4 million euros, a EBITDA of 7 million euros and a Net income of 3.5 million euros. These values should rise in 2023, respectively, to 102.9 million euros, 9 million euros and 4.9 million euros. The forecasts are also for an increase in revenues of 123.3 million euros in 2024, an EBITDA of 11.1 million euros and a net profit of 7 million euros.