Idstein The research firms Quirin Privatbank and Montega have published new research reports on Serviceware SE ("Serviceware", ISIN DE000A2G8X31) based on the recently published nine-month figures. In their studies on Serviceware, the analysts emphasise, among other things, the strong growth during the first nine months of fiscal 2023/2024, which exceeded expectations. Both research firms recommend the Serviceware share as a Buy. The upside target of Quirin Privatbank is EUR 25.00 (previously: EUR 23.00). Montega has raised its upside target for Serviceware from EUR 18.00 to EUR 19.00. The analysts thus see considerable upside potential of around 92 percent and around 46 percent respectively. The closing price of the Serviceware share was EUR 13.00 (Xetra) on 29 October 2024.
According to Quirin Privatbank, the conversion from a licence to an SaaS business model is increasingly paying off. This is also evident from the sharp increase in contract liabilities. Artificial Intelligence and the international expansion of Serviceware are driving growth as well. Through the partnership with Maryville Consulting in North America, Serviceware is strengthening its international positioning and expanding its range of services. Quirin Privatbank expects further positive growth impulses from this partnership in the coming months.
According to Montega, the Q3 figures once again underpinned the strong operational development of Serviceware. The expected scaling is gradually materialising and should lead to a further increase in profitability. Consequently, the analysts are raising their estimates for EBIT in 2025 by 7.4 percent and for 2026 by 12.0 percent and are also slightly increasing their sales expectations for the coming years. Moreover, Serviceware already has a comfortable net cash position of EUR 2.95 per share. Montega expects the strong momentum to persist in Q4 and continues to regard the software sector as attractive.