Analyst of Stifel Nicolaus reiterated a Hold rating on Planisware Societe anonyme, with a price target of €25.00.
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Stifel Nicolaus’s rating is based on a combination of factors that reflect the current financial and market conditions of Planisware Societe anonyme. The Q3 2025 results showed revenues slightly above expectations, primarily driven by nonrecurring revenues such as perpetual licenses, which saw significant growth. However, the reported growth was dampened by the depreciation of the US dollar against the euro, affecting the overall financial performance.
Despite the positive signs of stabilization and early improvements, such as new client signings and upselling, these are not expected to significantly impact financial results until 2026. The Hold rating is maintained due to the valuation offering limited upside potential and a lack of sufficient ‘margin of safety.’ Furthermore, recurring revenue growth did not meet expectations, and the challenging economic and geopolitical environment continues to pose risks, with longer sales cycles and constrained IT budgets impacting the company’s ability to expand its client base.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a €21.50 price target.