Martin Comtesse, an analyst from Jefferies, maintained the Buy rating on Nagarro SE. The associated price target remains the same with €93.00.
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Martin Comtesse has given his Buy rating due to a combination of factors including Nagarro SE’s strong underlying operations and robust revenue growth. Despite the challenges posed by a weak USD impacting Q2 profitability, the company achieved a notable organic revenue increase of 3.8% in constant currency terms and a significant year-over-year rise in gross profit by 14.2%.
Furthermore, while the EBITDA was adversely affected by currency revaluation losses, the overall financial health of Nagarro SE remains solid. The management’s revised guidance for FY25, although adjusted downward, aligns with market expectations, suggesting stability in future performance. These elements collectively underpin the Buy rating, reflecting confidence in the company’s ability to navigate current challenges and deliver long-term value.