Original-Research: Verve Group SE (von First Berlin Equity Research GmbH): Kaufen
Original-Research: Verve Group SE - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Verve Group SE
Company Name: Verve Group SE
ISIN: SE0018538068
Reason for the research: M&A Update
Recommendation: Kaufen
from: 24.06.2024
Target price: €4,90
Target price on sight of: 12 Monate
Last rating change: -
Analyst: Ellis Acklin
First Berlin Equity Research hat ein Research Update zu Verve Group SE (ISIN: SE0018538068) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und erhöht das Kursziel von EUR 4,10 auf EUR 4,90.
Zusammenfassung:
Die kürzlich umbenannte Verve Group SE hat mit der strategischen Übernahme
der Jun Group, einem in den USA ansässigen Unternehmen für digitale Medien,
ihre M&A-Kompetenz erneut unter Beweis gestellt. Verve hat die Märkte
geduldig beobachtet, um eine Gelegenheit zu finden, seine stark auf die
Supply-Side (SSP) ausgerichtete Werbesoftware-Plattform zu stärken. Wir
sind der Meinung, dass Verve den richtigen Deal zu einem höchst attraktiven
Preis gefunden hat, der das Geschäft auf der Demand-Side (DSP) beleben, die
Finanzen ankurbeln, die Bilanz stärken und einen direkten Zugang zu
begehrten Fortune-500-Marken bieten wird, während gleichzeitig die
KI-Toolbox und der Datenschatz erweitert werden. Wir haben unsere Prognosen
neu kalibriert, um den Wertzuwachs zu berücksichtigen, der die Verwässerung
durch die damit verbundene Kapitalerhöhung mehr als ausgleicht. Unser
Kursziel steigt auf €4,90 (zuvor: €4,10). Wir stufen Verve weiterhin mit
Kaufen ein.
First Berlin Equity Research has published a research update on Verve Group SE (ISIN: SE0018538068). Analyst Ellis Acklin reiterated his BUY rating and increased the price target from EUR 4.10 to EUR 4.90.
Abstract:
The recently rebranded Verve Group SE dusted off its M&A tool belt with the
strategic acquisition of Jun Group, a US based digital media company. Verve
has been patiently monitoring the markets for an opportunity to boost its
ad software platform that was heavily weighted to the supply-side. We think
Verve found the right deal at an excellent price that will invigorate its
demand-side business, boost financials, strengthen the balance sheet, and
provide direct access to coveted Fortune 500 brands, while also expanding
its AI toolbox and data trove. We have recalibrated our forecasts to
account for the accretive deal that more than offsets the dilution from the
associated cap hike. Our TP moves to €4.9 (old: €4.1). We remain
Buy-rated on Verve.
Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse.
You can download the research here:
http://www.more-ir.de/d/30083.pdf
Contact for questions
First Berlin Equity Research GmbH
Herr Gaurav Tiwari
Tel.: +49 (0)30 809 39 686
web: www.firstberlin.com
E-Mail: g.tiwari@firstberlin.com
-------------------transmitted by EQS Group AG.-------------------
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | ||
| Sales1 | 83,89 | 140,22 | 252,17 | 324,44 | 321,98 | 416,00 | 0,00 | |
| EBITDA1,2 | 15,54 | 26,55 | 65,04 | 84,75 | 128,46 | 132,00 | 0,00 | |
| EBITDA-Margin3 | 18,52 | 18,94 | 25,79 | 26,12 | 39,90 | 31,73 | 0,00 | |
| EBIT1,4 | 5,00 | 11,04 | 36,80 | 26,62 | 99,00 | 0,00 | 0,00 | |
| EBIT-Margin5 | 5,96 | 7,87 | 14,59 | 8,21 | 30,75 | 0,00 | 0,00 | |
| Net Profit (Loss)1 | 1,25 | 2,71 | 16,06 | -20,41 | 46,22 | 0,00 | 0,00 | |
| Net-Margin6 | 1,49 | 1,93 | 6,37 | -6,29 | 14,36 | 0,00 | 0,00 | |
| Cashflow1,7 | 16,20 | 25,20 | 64,84 | 134,22 | 69,45 | 0,00 | 0,00 | |
| Earnings per share8 | -0,01 | 0,03 | 0,11 | -0,12 | 0,26 | 0,11 | 0,12 | |
| Dividend per share8 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: Deloitte
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Verve Group | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A3D3A1 | SE0018538068 | SE | 568,05 Mio € | Halten | 9FFW83PF+F9 | |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 25,29 | 22,72 | 1,12 | 54,20 | 1,61 | 8,18 | 1,78 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 11.06.2025 | 28.05.2025 | 19.08.2025 | 28.11.2024 | 18.04.2024 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -12,85% | +15,85% | -6,04% | +220,85% | +154,74% |
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