Analyst Henrik Paganetty from Jefferies maintained a Hold rating on ATOSS Software and keeping the price target at €120.00.
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Henrik Paganetty has given his Hold rating due to a combination of factors, including ATOSS Software’s solid Q3 2025 performance. The company reported a 12% year-over-year increase in sales, reaching €47.2 million, which aligns with expectations. Despite the challenging economic environment, ATOSS Software has shown resilience, particularly in its software segment, which comprises a significant portion of total sales.
Cloud revenues saw a notable 25% year-over-year rise, contributing to 70% of total recurring revenues, thereby providing good revenue visibility. However, while the EBIT margin improved to 36%, it was slightly lower than the previous year’s 38%, reflecting the impact of ongoing sales transformation efforts. The company’s disciplined cost management and strategic planning have supported this performance, but the Hold rating suggests that while the company is performing well, there may be limited immediate upside potential in the stock price.

