(Boursier.com) — Wallix is sought after its quarterly update. In copious volumes, the title of the publisher of computer security software suites soared by almost 14% to 9.7 euros this weekend in Paris. Building on sustained growth dynamics and the continued strengthening of recurrence, the Group has reiterated its ambitions to improve results from the second half of 2023 and to achieve a break-even operating result in 2024.
For Oddo BHF, this publication is consistent with the anticipated growth trajectory, and confirms that the investments made in recent months, as well as the (necessary) work on the industrialization of sales are gradually bearing fruit (reorganized sales organization). The upcoming development phase, which offers more visibility, remains promising, and Wallix seems capable of maintaining solid momentum over the coming quarters (despite the rise in recurring revenue)… This trajectory remains to be confirmed, but could quickly be associated with a significant rerating of the stock, especially as the price remains at historically low valuation levels in absolute terms. Thus, taking into account a risk/reward which appears very attractive at the current price, and a speculative component which cannot be ruled out, the broker reiterates its ‘outperformance’ opinion and its target of 16 euros.
TP ICAP Midcap maintains its ‘buy’ rating as well as its price target of 18 euros. The published elements are generally in line with its expectations and reassure the broker in its scenario. They give credibility to the Group’s objectives of achieving operating balance in 2024.
©2023 Boursier.com