Analyst Martin Comtesse of Jefferies maintained a Buy rating on Nagarro SE (NGRRF – Research Report), with a price target of €105.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Martin Comtesse has given his Buy rating due to a combination of factors that highlight the company’s financial resilience and potential for recovery. The preliminary FY24 numbers revealed a slower revenue growth in the fourth quarter, but this was offset by a notable improvement in profitability, with adjusted EBITDA surpassing market expectations by 7%.
Despite the delay in the audited report due to the new auditor’s requirements, the management’s commitment to distributing dividends between 10% and 20% of EBIT indicates a strong confidence in the company’s financial health. Additionally, the potential for a market correction following the initial negative reaction to the report suggests that the current share price could rebound, making it an attractive buy opportunity.
According to TipRanks, Comtesse is an analyst with an average return of -1.3% and a 42.92% success rate.
In another report released yesterday, Warburg Research also maintained a Buy rating on the stock with a €135.00 price target.