Analyst Martin Comtesse of Jefferies maintained a Hold rating on flatexDEGIRO AG (FTK – Research Report), retaining the price target of €17.00.
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Martin Comtesse’s rating is based on a combination of factors that reflect both positive and cautious elements in flatexDEGIRO AG’s performance. The company reported a strong start to the year with a record quarter, highlighted by a significant 31% increase in commission income. This growth was primarily driven by an uptick in transaction volumes and an increase in the average commission per transaction.
Despite these positive indicators, there are underlying concerns that tempered the overall outlook. Interest income remained relatively stable, despite lower rates, due to a rise in cash deposits. However, the management’s decision to only reaffirm the FY25 guidance from March suggests a level of caution, as there remains considerable uncertainty regarding future performance. These mixed signals contribute to the Hold rating, indicating that while the company shows promise, there are still risks that need to be carefully monitored.
In another report released on April 24, Citi also maintained a Hold rating on the stock with a €21.50 price target.