Nexi S.p.A., the Technology sector company, was revisited by a Wall Street analyst today. Analyst Hannes Leitner from Jefferies maintained a Hold rating on the stock and has a €3.40 price target.
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Hannes Leitner has given his Hold rating due to a combination of factors related to Nexi’s first-quarter performance and outlook. The company slightly exceeded revenue expectations, mainly thanks to stronger issuing activities supported by higher transaction volumes, advantageous timing of projects, and the absence so far of the anticipated slowdown in that segment.
At the same time, the merchant solutions business underperformed and even declined overall, with underlying growth weakening once bank-related contracts are excluded. Profitability improved modestly as operating expenses remained stable and planned spending has not yet fully materialized, and management maintained its full-year guidance, suggesting no major change in the fundamental trajectory. As a result, while the share may react positively in the near term, the unchanged €3.4 price target reflects limited scope for estimate upgrades, justifying a neutral, Hold stance.