(Boursier.com) — Dassault Systems fell 0.7% on Monday, to 36 euros, while the broker Barclays adjusted its opinion of ‘overweight’ to ‘online weighting’ by targeting a price of 40 euros on the group which however recently raised its 2022 guidance thanks in particular to the strength of the dollar. The company is now targeting annual revenue of between €5.61bn and €5.65bn, down from a previous range of €5.49bn to €5.54bn, while its non-IFRS diluted EPS is expected between €1. .12 and 1.14 euro, against an earlier estimate of 1.08 euro to 1.10 euro.
The group has also confirmed that it is aiming for an operating margin of between 33.4% and 33.7%… But the company has also reduced its license revenue growth target in 2022 to a range of 5% to 7 %, against 9% to 11% previously. Analysts say a slowdown in software license sales growth could be “worrying”, even as favorable currency winds boosted Q3 sales…
Note that Deutsche Bank had lowered its target from 45 to 40 euros (‘hold’) and Invest Securities had cut its target from 35 to 30 euros (‘sell’). Jefferies (‘underperformance’) had explained for his part that the results represented “an underlying disappointment, the sales of licenses being below expectations”.
Same story at JP Morgan (‘neutral’) who felt that the significant change in the dynamics of licensing was likely to worry investors…
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