Martin Comtesse, an analyst from Jefferies, maintained the Buy rating on Nagarro SE (NGRRF – Research Report). The associated price target remains the same with €105.00.
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Martin Comtesse has given his Buy rating due to a combination of factors that suggest a positive outlook for Nagarro SE. The company has recently published its audited financial results for FY24, which were verified by KPMG, potentially restoring market confidence. Despite a modest start to 2025, with organic growth and EBITDA showing some decline, the company has proposed a dividend for the first time, indicating a commitment to returning value to shareholders.
Furthermore, the management’s confidence in achieving the FY25 guidance, which anticipates a significant recovery, supports the Buy rating. The increase in operating cash flow, adjusted for factoring, also points to improved financial health. These elements combined suggest that Nagarro SE is well-positioned for future growth, justifying the positive recommendation.
According to TipRanks, Comtesse is a 2-star analyst with an average return of 0.0% and a 45.75% success rate.
In another report released on April 28, Warburg Research also maintained a Buy rating on the stock with a €135.00 price target.