Analyst Martin Comtesse of Jefferies maintained a Hold rating on flatexDEGIRO AG, retaining the price target of €32.00.
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Martin Comtesse has given his Hold rating due to a combination of factors, including a very strong first quarter supported by high market volatility and robust retail trading, which translated into notable year-over-year growth in both revenues and net income, modestly above market expectations. A key driver was stronger-than-anticipated interest income, which delivered a solid upside surprise versus consensus and demonstrated the company’s ability to benefit from the current rate environment.
However, despite this encouraging momentum and the fact that performance is tracking ahead of plan, management chose only to reiterate, rather than raise, its financial targets out to 2026, signaling a more cautious view on the sustainability of current tailwinds. This conservative stance, combined with the already-reflected optimism in the share price, leads Comtesse to see limited near-term upside potential, and therefore he judges the risk-reward profile as balanced, justifying a Hold recommendation at this stage.
According to TipRanks, Comtesse is ranked #11127 out of 12161 analysts.
In another report released on April 13, Morgan Stanley also maintained a Hold rating on the stock with a €40.00 price target.