28 March 2025

sponsored

Better than expected guidance and promising order momentum

PSI Software AG

Target price

 

Recommendation

 

24 March 2025

FY 2024: all goals achieved

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

20 March 2025

Strong SaaS growth & sales guidance

Nemetschek SE

Target price

 

Recommendation

 

Buy

19 March 2025

sponsored

Guidance in line & strong order intake

Datagroup SE

Target price

 

Recommendation

 

10 March 2025

sponsored

Growth ambition offsets short-term margin pressure

GFT Technologies SE

Target price

 

Recommendation

 

27 February 2025

sponsored

FY 2024: A challenging year is over

CLIQ Digital AG

Target price

 

Recommendation

 

21 February 2025

sponsored

Acceleration of organic growth

Swissnet AG

Target price

 

Recommendation

 

21 February 2025

sponsored

SaaS shift boosts momentum

Serviceware SE

Target price

 

Recommendation

 

21 February 2025

sponsored

New customer wins & cross-selling fuel strong Q1

Datagroup SE

Target price

 

Recommendation

 

19 February 2025

sponsored

Cloud fuels Intershop’s revenues & positive EBIT

Intershop Communications AG

Target price

 

Recommendation

 

10 February 2025

sponsored

Well-positioned to capitalize on growing AI Trend

GFT Technologies SE

Target price

 

Recommendation

 

06 February 2025

sponsored

Prel. FY 2024 figures in line with guidance

CLIQ Digital AG

Target price

 

Recommendation

 

04 February 2025

sponsored

New branding and promising projects

Swissnet AG

Target price

 

Recommendation

 

03 February 2025

Weak retail sector still weight on earnings

KPS AG

Target price

 

Recommendation

 

Buy

29 November 2024

Convincing figures for Q3-24

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

28 November 2024

sponsored

Q3 shows stabilization

PSI Software AG

Target price

 

Recommendation

 

22 November 2024

sponsored

Strong Q4 & Almato spin-off

Datagroup SE

Target price

 

Recommendation

 

20 November 2024

sponsored

Acquisitions pave growth path of new Swissnet Group

Swissnet AG

Target price

 

Recommendation

 

14 November 2024

sponsored

2024: Focus remains on profitability

CLIQ Digital AG

Target price

 

Recommendation

 

27 October 2024

sponsored

Upgraded outlook on record Q3

Serviceware SE

Target price

 

Recommendation

 

12 August 2024

H1 results confirm full year outlook

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

12 August 2024

sponsored

Q2-24: EBITDA improved; operating cash flow positive

CLIQ Digital AG

Target price

 

Recommendation

 

12 August 2024

sponsored

Good H1 growth despite challenging markets

GFT Technologies SE

Target price

 

Recommendation

 

12 August 2024

Strong H1 driven by German tenders

Nexus AG

Target price

 

Recommendation

 

Buy

12 August 2024

sponsored

Strong Q3 results & order intake

Datagroup SE

Target price

 

Recommendation

 

01 August 2024

Solid H1 with focus on AI and cloud computing

Reply SPA

Target price

 

Recommendation

 

Buy

31 July 2024

GoCanvas boosts growth potential

Nemetschek SE

Target price

 

Recommendation

 

Buy

31 July 2024

sponsored

Strong results through AI integration and successful SaaS transition

Serviceware SE

Target price

 

Recommendation

 

31 July 2024

Enterprise segment picking up

TeamViewer AG

Target price

 

Recommendation

 

Buy

25 July 2024

sponsored

Cloud business very favorable

Intershop Communications AG

Target price

 

Recommendation

 

11 June 2024

sponsored

PSI on a good path after cyber attack

PSI Software AG

Target price

 

Recommendation

 

28 May 2024

sponsored

Profit warning for FY 2024, but share price decline exaggerated

CLIQ Digital AG

Target price

 

Recommendation

 

23 May 2024

sponsored

Strategic investments start to pay off

Datagroup SE

Target price

 

Recommendation

 

16 May 2024

Q1-24: strong improvement of all major KPIs

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

09 May 2024

sponsored

Solid start in challenging environment

GFT Technologies SE

Target price

 

Recommendation

 

05 May 2024

Weak demand, restructuring and KaDeWe insolvency burden EBITDA

KPS AG

Target price

 

Recommendation

 

Buy

23 April 2024

sponsored

Break even on EBIT basis

Intershop Communications AG

Target price

 

Recommendation

 

21 April 2024

sponsored

Growing pipeline & margin expansion

Serviceware SE

Target price

 

Recommendation

 

15 April 2024

Optimistic outlook for 2024

Bechtle AG

Target price

 

Recommendation

 

Buy

24 March 2024

Ahead of further years of growth

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

12 March 2024

sponsored

Profitability reached & strong pipeline

Serviceware SE

Target price

 

Recommendation

 

12 March 2024

sponsored

Hit by KaDeWe insolvency but cautiously optimistic guidance

KPS AG

Target price

 

Recommendation

 

10 March 2024

sponsored

Sophos & AI should fuel growth

GFT Technologies SE

Target price

 

Recommendation

 

10 March 2024

sponsored

Growth drivers remain intact

Nexus AG

Target price

 

Recommendation

 

05 March 2024

sponsored

FY 2024: Further growth & share buyback

CLIQ Digital AG

Target price

 

Recommendation

 

05 March 2024

sponsored

Investments in competitiveness

Datagroup SE

Target price

 

Recommendation

 

15 February 2024

sponsored

Promising EBIT guidance

Intershop Communications AG

Target price

 

Recommendation

 

12 February 2024

Outstanding payments from KaDeWe

KPS AG

Target price

 

Recommendation

 

Buy

08 February 2024

Termination of Coverage

EQS Group AG

Target price

 

Recommendation

 

Buy

25 January 2024

sponsored

GFT acquires Sophos Solutions

GFT Technologies SE

Target price

 

Recommendation

 

23 November 2023

9M-23 figures

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

21 November 2023

Offer price of EUR 40.00 too low

EQS Group AG

Target price

 

Recommendation

 

Buy

20 November 2023

sponsored

Datagroup with margin improvements

Datagroup SE

Target price

 

Recommendation

 

14 November 2023

Reply with solid growth for their first 9 months

Reply SPA

Target price

 

Recommendation

 

Buy

13 November 2023

SaaS transition well underway

Nemetschek SE

Target price

 

Recommendation

 

Buy

12 November 2023

High demand from large customers and public-sector

Bechtle AG

Target price

 

Recommendation

 

Buy

09 November 2023

sponsored

9M-23 figures

CLIQ Digital AG

Target price

 

Recommendation

 

09 November 2023

sponsored

Business picks up in Brazil

GFT Technologies SE

Target price

 

Recommendation

 

06 November 2023

Nexus continues strong growth & state programs are promising

Nexus AG

Target price

 

Recommendation

 

Buy

06 November 2023

TeamViewer with stronger Enterprise growth

TeamViewer AG

Target price

 

Recommendation

 

Buy

01 November 2023

Termination of coverage

Social Chain AG

Target price

 

Recommendation

 

Buy

30 October 2023

sponsored

Upper guidance range very likely

Serviceware SE

Target price

 

Recommendation

 

29 October 2023

sponsored

Return to profitability in Q3

PSI Software AG

Target price

 

Recommendation

 

25 October 2023

sponsored

Confirmation of guidance

Intershop Communications AG

Target price

 

Recommendation

 

12 October 2023

A new substantial order for its US subsidiary

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

13 August 2023

sponsored

Temporary issues could offer a buying opportunity

PSI Software AG

Target price

 

Recommendation

 

13 August 2023

sponsored

GFT slightly adjusts its guidance

GFT Technologies SE

Target price

 

Recommendation

 

13 August 2023

sponsored

Growth picking up & utilizing AI

Serviceware SE

Target price

 

Recommendation

 

13 August 2023

Strong tailwind from whistleblower solution to drive growth & profitability

EQS Group AG

Target price

 

Recommendation

 

Buy

09 August 2023

init remains on track to meet its targets

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

07 August 2023

sponsored

FY 2023 guidance confirmed

CLIQ Digital AG

Target price

 

Recommendation

 

05 August 2023

sponsored

Application for insolvency

Social Chain AG

Target price

 

Recommendation

 

23 May 2023

sponsored

Profitability exceeding ambition

Datagroup SE

Target price

 

Recommendation

 

16 May 2023

Q1-23: increase of sales & orders

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

10 May 2023

sponsored

Strong growth in the US

GFT Technologies SE

Target price

 

Recommendation

 

04 May 2023

sponsored

Best first quarter results ever

CLIQ Digital AG

Target price

 

Recommendation

 

01 May 2023

sponsored

Order backlog improves over 38%

Serviceware SE

Target price

 

Recommendation

 

01 May 2023

sponsored

New orders significantly up

PSI Software AG

Target price

 

Recommendation

 

01 May 2023

sponsored

Restructuring effects in H2 expected

Social Chain AG

Target price

 

Recommendation

 

16 April 2023

FY 2022 results

EQS Group AG

Target price

 

Recommendation

 

Buy

05 April 2023

A forty-year success story

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

29 March 2023

sponsored

PSI maintains mid-term guidance

PSI Software AG

Target price

 

Recommendation

 

09 March 2023

Nexus to profit from discontinuation of competitors’ software modules

Nexus AG

Target price

 

Recommendation

 

Buy

09 March 2023

sponsored

Guidance confirms growth potential

Datagroup SE

Target price

 

Recommendation

 

02 March 2023

sponsored

Bank digitalization boosts growth

GFT Technologies SE

Target price

 

Recommendation

 

27 February 2023

sponsored

Strong FY 2023 outlook

CLIQ Digital AG

Target price

 

Recommendation

 

26 February 2023

sponsored

Saas business further expanded

Serviceware SE

Target price

 

Recommendation

 

16 February 2023

sponsored

Margin improvements expected

Intershop Communications AG

Target price

 

Recommendation

 

15 February 2023

EQS suffers from delays in German politics

EQS Group AG

Target price

 

Recommendation

 

Buy

30 January 2023

Uncertainties until H2 2023

KPS AG

Target price

 

Recommendation

 

Buy

29 November 2022

sponsored

Reduced Guidance for 2022

Social Chain AG

Target price

 

Recommendation

 

24 November 2022

sponsored

Datagroup exceeding guidance & encouraging mid-term target

Datagroup SE

Target price

 

Recommendation

 

14 November 2022

Q3-22 figures & order expansion

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

10 November 2022

Strong sales growth in Q3

Bechtle AG

Target price

 

Recommendation

 

Buy

09 November 2022

sponsored

GFT with exceptional Q3

GFT Technologies SE

Target price

 

Recommendation

 

08 November 2022

sponsored

Strong Q3-22 figures, FY 2022 guidance conservative

CLIQ Digital AG

Target price

 

Recommendation

 

30 October 2022

sponsored

2026 long-term guidance confirmed

PSI Software AG

Target price

 

Recommendation

 

30 October 2022

sponsored

Favourable SaaS growth

Serviceware SE

Target price

 

Recommendation

 

26 October 2022

Nemetschek with solid Q3 results

Nemetschek SE

Target price

 

Recommendation

 

Buy

25 October 2022

sponsored

Strong performance in cloud business

Intershop Communications AG

Target price

 

Recommendation

 

19 October 2022

sponsored

GFT raises 2022 guidance again

GFT Technologies SE

Target price

 

Recommendation

 

29 September 2022

sponsored

Guidance adjustment – but still undervalued

Intershop Communications AG

Target price

 

Recommendation

 

25 September 2022

sponsored

Lower guidance but still undervalued

Serviceware SE

Target price

 

Recommendation

 

23 August 2022

sponsored

Strong margin improvements

Datagroup SE

Target price

 

Recommendation

 

18 August 2022

Beneficiary of the regulations

EQS Group AG

Target price

 

Recommendation

 

Buy

14 August 2022

sponsored

Focus on profitability – new Guidance

Social Chain AG

Target price

 

Recommendation

 

11 August 2022

Strong order backlog

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

11 August 2022

sponsored

Strong H1 & guidance raised again

GFT Technologies SE

Target price

 

Recommendation

 

03 August 2022

Billings guidance at risk?

TeamViewer AG

Target price

 

Recommendation

 

Buy

03 August 2022

sponsored

Strong Q2-22 figures, FY 2022 guidance confirmed

CLIQ Digital AG

Target price

 

Recommendation

 

21 June 2022

sponsored

Strategy update & increase of guidance

CLIQ Digital AG

Target price

 

Recommendation

 

13 June 2022

sponsored

LBM SaaS provider with upside potential

Swissnet AG

Target price

 

Recommendation

 

29 May 2022

sponsored

Decrease of guidance & mixed results

Social Chain AG

Target price

 

Recommendation

 

24 May 2022

Solid start in FY 2022

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

11 May 2022

sponsored

Exceptional strong start into the year

GFT Technologies SE

Target price

 

Recommendation

 

01 May 2022

sponsored

Postponed license orders in Q1

PSI Software AG

Target price

 

Recommendation

 

01 May 2022

sponsored

Record Q1 & promising quarters ahead

Serviceware SE

Target price

 

Recommendation

 

27 April 2022

sponsored

Cloud business strongly expanding

Intershop Communications AG

Target price

 

Recommendation

 

27 April 2022

Better than expected Q1 results

Nemetschek SE

Target price

 

Recommendation

 

Buy

28 March 2022

sponsored

Strong 2021 results & focus on margin improvements

PSI Software AG

Target price

 

Recommendation

 

27 March 2022

The leading European cloud provider for whistleblowing systems

EQS Group AG

Target price

 

Recommendation

 

Buy

27 March 2022

Tailwind from high order intake and large number of tenders

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

17 March 2022

sponsored

Social Chain sells majority stake in their brand "Koro"

Social Chain AG

Target price

 

Recommendation

 

13 March 2022

sponsored

Nexus with strong growth in 2021

Nexus AG

Target price

 

Recommendation

 

10 March 2022

sponsored

Guidance for 2022 & Roadshow

Social Chain AG

Target price

 

Recommendation

 

07 March 2022

sponsored

Strong short- and mid-term outlook

CLIQ Digital AG

Target price

 

Recommendation

 

02 March 2022

sponsored

Strong demand & better than expected guidance

GFT Technologies SE

Target price

 

Recommendation

 

01 March 2022

sponsored

Serviceware exceeding their own guidance

Serviceware SE

Target price

 

Recommendation

 

22 February 2022

sponsored

Datagroup with record first quarter

Datagroup SE

Target price

 

Recommendation

 

21 February 2022

sponsored

The Social Chain with solidly profitable results

Social Chain AG

Target price

 

Recommendation

 

16 February 2022

sponsored

Above-market growth in cloud revenues

Intershop Communications AG

Target price

 

Recommendation

 

22 November 2021

sponsored

Ending FY2020/21 with strong results

Datagroup SE

Target price

 

Recommendation

 

18 November 2021

9M-21: strong growth

EQS Group AG

Target price

 

Recommendation

 

Buy

10 November 2021

9M-21: init suffers from rising procurement costs

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

10 November 2021

sponsored

Strong 9M figures underline guidance

GFT Technologies SE

Target price

 

Recommendation

 

02 November 2021

sponsored

Strong 9M-21 figures

CLIQ Digital AG

Target price

 

Recommendation

 

31 October 2021

sponsored

Strong Q3 & encouraging outlook

PSI Software AG

Target price

 

Recommendation

 

21 October 2021

sponsored

Acquisition of DS Holding a perfect fit

Social Chain AG

Target price

 

Recommendation

 

21 October 2021

sponsored

Q3 significantly exceeding expectations

Serviceware SE

Target price

 

Recommendation

 

21 October 2021

sponsored

GFT with second guidance increase

GFT Technologies SE

Target price

 

Recommendation

 

21 October 2021

sponsored

Encouraging 9m figures - Buy

Intershop Communications AG

Target price

 

Recommendation

 

06 October 2021

Significant guidance downgrade

TeamViewer AG

Target price

 

Recommendation

 

Buy

27 September 2021

sponsored

Increase of FY 2021 guidance

CLIQ Digital AG

Target price

 

Recommendation

 

08 September 2021

sponsored

Social Chain reports strong H1 2021

Social Chain AG

Target price

 

Recommendation

 

24 August 2021

sponsored

Strong Q3 & increase target price

Datagroup SE

Target price

 

Recommendation

 

11 August 2021

sponsored

GFT reports extraordinary Q2

GFT Technologies SE

Target price

 

Recommendation

 

05 August 2021

FY 2021 guidance confirmed

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

04 August 2021

sponsored

Strong H1-21 figures – FY 2021 outlook confirmed

CLIQ Digital AG

Target price

 

Recommendation

 

03 August 2021

sponsored

Growth again exceeding expectations

Serviceware SE

Target price

 

Recommendation

 

27 July 2021

sponsored

Strong Q2 and guidance increase

PSI Software AG

Target price

 

Recommendation

 

27 July 2021

Postponed projects trigger a positive one-time effect

KPS AG

Target price

 

Recommendation

 

Buy

21 July 2021

sponsored

Intershop reports convincing set of H1 figures

Intershop Communications AG

Target price

 

Recommendation

 

20 July 2021

sponsored

GFT upgrades its outlook following catch-up effects

GFT Technologies SE

Target price

 

Recommendation

 

14 June 2021

EQS now leading cloud provider for whistleblowing systems in Europe

EQS Group AG

Target price

 

Recommendation

 

Buy

26 May 2021

sponsored

Strong Q2 & guidance increase

Datagroup SE

Target price

 

Recommendation

 

24 May 2021

Pretty good start into FY 2021

EQS Group AG

Target price

 

Recommendation

 

Buy

19 May 2021

sponsored

Encouraging Q1 & Guidance upgrade

Social Chain AG

Target price

 

Recommendation

 

10 May 2021

sponsored

Strong start into FY 2021

CLIQ Digital AG

Target price

 

Recommendation

 

28 April 2021

sponsored

PSI reports record Q1 with significantly improved margins

PSI Software AG

Target price

 

Recommendation

 

28 April 2021

sponsored

Intershop further improves its profitability & solid start into 2021

Intershop Communications AG

Target price

 

Recommendation

 

26 April 2021

sponsored

GFT upgrades its outlook following a better than expected Q1

GFT Technologies SE

Target price

 

Recommendation

 

22 April 2021

sponsored

Serviceware with strong Q1 figures well exceeding expectations

Serviceware SE

Target price

 

Recommendation

 

21 April 2021

Buying opportunity for one of the most exciting software companies

TeamViewer AG

Target price

 

Recommendation

 

Buy

15 April 2021

Bechtle set to profit from increasing IT budgets – upgrade to Buy

Bechtle AG

Target price

 

Recommendation

 

Buy

05 April 2021

Reply’s valuation seems somewhat stretched

Reply SPA

Target price

 

Recommendation

 

Buy

05 April 2021

RIB Software guidance in line

RIB Software SE

Target price

 

Recommendation

 

Buy

29 March 2021

Tailwind for digitalization in public transport

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

24 March 2021

sponsored

PSI’s outlook well exceeding EBIT expectations for 2021

PSI Software AG

Target price

 

Recommendation

 

22 March 2021

Nemetschek gives promising mid term outlook – reiterate Buy

Nemetschek SE

Target price

 

Recommendation

 

Buy

21 March 2021

sponsored

Strong and long-term tailwind

CLIQ Digital AG

Target price

 

Recommendation

 

18 March 2021

Bechtle with positive 2021 outlook and increased dividend

Bechtle AG

Target price

 

Recommendation

 

Buy

16 March 2021

sponsored

Improving profitability and successful cloud business

Intershop Communications AG

Target price

 

Recommendation

 

09 March 2021

Nexus with strong set of 2020 figures

Nexus AG

Target price

 

Recommendation

 

Buy

09 March 2021

sponsored

Serviceware well exceeding margin expectations

Serviceware SE

Target price

 

Recommendation

 

08 March 2021

sponsored

Strong guidance for 2021

Social Chain AG

Target price

 

Recommendation

 

04 March 2021

sponsored

GFT exceeding expectations

GFT Technologies SE

Target price

 

Recommendation

 

04 March 2021

sponsored

Datagroup guiding double digit growth for 2021 sales & EBITDA

Datagroup SE

Target price

 

Recommendation

 

16 February 2021

sponsored

Feedback from virtual Roadshow

CLIQ Digital AG

Target price

 

Recommendation

 

09 February 2021

sponsored

FY 2020: all goals achieved

CLIQ Digital AG

Target price

 

Recommendation

 

21 January 2021

Disappointing Q4 & dividend down

KPS AG

Target price

 

Recommendation

 

Buy

29 November 2020

sponsored

Unique play on e-commerce & social media advertising defying Covid-19

Social Chain AG

Target price

 

Recommendation

 

15 November 2020

sponsored

Expecting significant improvement with banking clients in 2021

Datagroup SE

Target price

 

Recommendation

 

11 November 2020

sponsored

2021 expected to be a break out year

GFT Technologies SE

Target price

 

Recommendation

 

03 November 2020

sponsored

Q3-20: Strong set of figures

CLIQ Digital AG

Target price

 

Recommendation

 

29 October 2020

sponsored

PSI with stable results

PSI Software AG

Target price

 

Recommendation

 

21 October 2020

sponsored

Q3 2020: Better than expected

Intershop Communications AG

Target price

 

Recommendation

 

27 September 2020

Hidden champion still “under the radar” – buying opportunity

Serviceware SE

Target price

 

Recommendation

 

Buy

23 September 2020

sponsored

2nd increase of FY 2020 guidance

CLIQ Digital AG

Target price

 

Recommendation

 

23 August 2020

sponsored

H1-20: Full of Highlights

CLIQ Digital AG

Target price

 

Recommendation

 

17 August 2020

Increase of FY 2020 guidance

EQS Group AG

Target price

 

Recommendation

 

Buy

13 August 2020

sponsored

Solid Q2 figures & normalization expected in 2021

GFT Technologies SE

Target price

 

Recommendation

 

05 August 2020

FY 2020 guidance confirmed

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

30 July 2020

Q2 figures better than expected and recurring revenues reach new level

Nemetschek SE

Target price

 

Recommendation

 

Buy

30 July 2020

RIB Software reported extraordinary Q2 results

RIB Software SE

Target price

 

Recommendation

 

Buy

27 July 2020

sponsored

Upside if the recovery continues

PSI Software AG

Target price

 

Recommendation

 

26 July 2020

sponsored

Convincing Q2 figures – Intershop proves turnaround is sustainable

Intershop Communications AG

Target price

 

Recommendation

 

26 July 2020

Upgrade Nemetschek on long-term growth perspectives & crisis-proof

Nemetschek SE

Target price

 

Recommendation

 

Buy

26 July 2020

Project breaks with some customers lead to significant drop in EBITDA

KPS AG

Target price

 

Recommendation

 

Buy

06 July 2020

sponsored

Strong increase of FY 2020 guidance

CLIQ Digital AG

Target price

 

Recommendation

 

25 June 2020

sponsored

Dividend payments ahead

CLIQ Digital AG

Target price

 

Recommendation

 

18 June 2020

sponsored

Guidance better than expected

GFT Technologies SE

Target price

 

Recommendation

 

15 June 2020

sponsored

CLIQ Digital to benefit from rising demand for streaming content

CLIQ Digital AG

Target price

 

Recommendation

 

01 June 2020

Less resistant to crisis than peers due to high share of project business

KPS AG

Target price

 

Recommendation

 

Buy

14 May 2020

Q1-20 results: Feedback from virtual Roadshow

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

14 May 2020

sponsored

Q1 broadly in line & favorable momentum of client diversification

GFT Technologies SE

Target price

 

Recommendation

 

14 May 2020

sponsored

Crisis accelerates digitization trend

Datagroup SE

Target price

 

Recommendation

 

10 May 2020

Solid Q1 figures despite a difficult environment

Bechtle AG

Target price

 

Recommendation

 

Buy

03 May 2020

Solid Q1 figures despite Covid-19 pandemic

Nemetschek SE

Target price

 

Recommendation

 

Buy

29 April 2020

sponsored

Intershop achieves turnaround despite this major crisis

Intershop Communications AG

Target price

 

Recommendation

 

28 April 2020

sponsored

PSI proves to have one of the more stable business models in this crisis

PSI Software AG

Target price

 

Recommendation

 

08 April 2020

Potential winner from Covid-19

EQS Group AG

Target price

 

Recommendation

 

Buy

30 March 2020

Strong outlook for FY 2020

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

25 March 2020

sponsored

Recurring revenues help stabilize business model

PSI Software AG

Target price

 

Recommendation

 

19 March 2020

Bechtle’s business model looks relatively stable amid corona crisis

Bechtle AG

Target price

 

Recommendation

 

Buy

12 March 2020

2019 figures broadly in line

Reply SPA

Target price

 

Recommendation

 

Buy

04 March 2020

sponsored

GFT already perceived as one of the most important cloud enablers

GFT Technologies SE

Target price

 

Recommendation

 

03 March 2020

sponsored

Datagroup releases Guidance 2020

Datagroup SE

Target price

 

Recommendation

 

27 February 2020

Another major order in the US

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

25 February 2020

sponsored

Positive start into FY 2020/19

Datagroup SE

Target price

 

Recommendation

 

18 February 2020

sponsored

Intershop reports better than expected EBIT

Intershop Communications AG

Target price

 

Recommendation

 

16 February 2020

sponsored

Schneider Electric to launch public offer of EUR 29 per RIB share

RIB Software SE

Target price

 

Recommendation

 

16 February 2020

KPS reports pretty disappointing Q1 figures

KPS AG

Target price

 

Recommendation

 

Buy

02 February 2020

sponsored

Impressive track record justifies target price upgrade

Datagroup SE

Target price

 

Recommendation

 

23 January 2020

KPS releases mixed guidance

KPS AG

Target price

 

Recommendation

 

Buy

13 November 2019

Good Q3 figures – but in our view largely priced in

Reply SPA

Target price

 

Recommendation

 

Buy

13 November 2019

High quality company with promising prospects – largely factored in

PSI Software AG

Target price

 

Recommendation

 

Buy

12 November 2019

Bechtle reports strong Q3/19

Bechtle AG

Target price

 

Recommendation

 

Buy

10 November 2019

KPS’s valuation seems already stretched – downgrade to Hold

KPS AG

Target price

 

Recommendation

 

Buy

07 November 2019

Cloud transformation paving the way for turnaround

Intershop Communications AG

Target price

 

Recommendation

 

Buy

06 November 2019

sponsored

GFT with very positive Q3 figures – significant pick-up on revenues

GFT Technologies SE

Target price

 

Recommendation

 

05 November 2019

Reply’s valuation seems already stretched – downgrade to Hold

Reply SPA

Target price

 

Recommendation

 

Buy

04 November 2019

Nexus Q3 figures in line with expectations

Nexus AG

Target price

 

Recommendation

 

Buy

30 October 2019

Margin better than expected & targets upper guidance range

Nemetschek SE

Target price

 

Recommendation

 

Buy

29 October 2019

sponsored

Q3 user wins exceeding expectations

RIB Software SE

Target price

 

Recommendation

 

29 October 2019

Climate package serves PSI Software

PSI Software AG

Target price

 

Recommendation

 

Buy

15 September 2019

sponsored

RIB Software guidance raised

RIB Software SE

Target price

 

Recommendation

 

19 August 2019

sponsored

Convincing Q3 figures – target price raised

Datagroup SE

Target price

 

Recommendation

 

08 August 2019

Bechtle beats expectations & outlook slightly raised – target price up

Bechtle AG

Target price

 

Recommendation

 

Buy

07 August 2019

sponsored

Client & sector diversification reduces risk – buying opportunity on valuation

GFT Technologies SE

Target price

 

Recommendation

 

05 August 2019

sponsored

Our recommendation yields ~60% performance since start of the year

RIB Software SE

Target price

 

Recommendation

 

30 July 2019

Wind of Change

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

25 July 2019

Q2 figures broadly in line

PSI Software AG

Target price

 

Recommendation

 

Buy

25 July 2019

Strong growth, but in line with consensus

Nemetschek SE

Target price

 

Recommendation

 

Buy

16 June 2019

Our Buy recommendation yields a 34.9% return in less than 7 months

Bechtle AG

Target price

 

Recommendation

 

Buy

20 May 2019

Cloud platform about to gain market share as flexible one-stop shop

Datagroup SE

Target price

 

Recommendation

 

Buy

14 May 2019

H2 expected to be somewhat weaker & IFRS impact not mentioned

KPS AG

Target price

 

Recommendation

 

Buy

12 May 2019

sponsored

Q1 slightly better than expected

GFT Technologies SE

Target price

 

Recommendation

 

02 May 2019

sponsored

User growth better than expected

RIB Software SE

Target price

 

Recommendation

 

02 May 2019

Better than expected Q1 figures

PSI Software AG

Target price

 

Recommendation

 

Buy

14 April 2019

Compliance remains growth driver

EQS Group AG

Target price

 

Recommendation

 

Buy

14 April 2019

Cloud platform about to gain market share as flexible one-stop shop

Datagroup SE

Target price

 

Recommendation

 

Buy

01 April 2019

Outlook for FY 2019 EBIT conservative

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

25 March 2019

Increased growth expectations lead to target price upgrade

PSI Software AG

Target price

 

Recommendation

 

Buy

04 March 2019

Q4 top line well ahead of consensus

Nexus AG

Target price

 

Recommendation

 

Buy

27 February 2019

sponsored

Buying opportunity after bad news released

GFT Technologies SE

Target price

 

Recommendation

 

14 February 2019

Racehorse: KPS AG

KPS AG

Target price

 

Recommendation

 

Buy

13 February 2019

sponsored

Racehorse: RIB Software SE

RIB Software SE

Target price

 

Recommendation

 

05 February 2019

Racehorse: Nemetschek SE, Bechtle AG

Bechtle AG, Nemetschek SE

Target price

 

Recommendation

 

Buy

04 February 2019

Estimates up ahead of preliminaries

Nemetschek SE

Target price

 

Recommendation

 

Buy

30 January 2019

Guidance slightly below expectations

KPS AG

Target price

 

Recommendation

 

Buy

27 January 2019

Preview: Guidance to be released & positive Q1 18/19 expected

KPS AG

Target price

 

Recommendation

 

Buy

29 November 2018

Bechtle set to gain market share & continue strong track record

Bechtle AG

Target price

 

Recommendation

 

Buy

15 November 2018

sponsored

Adjustment of YTWO expectations

RIB Software SE

Target price

 

Recommendation

 

13 November 2018

Q3 slightly better than expected

Reply SPA

Target price

 

Recommendation

 

Buy

07 November 2018

sponsored

GFT: Mid-term guidance at risk & 2018 sales guidance slightly lowered

GFT Technologies SE

Target price

 

Recommendation

 

05 November 2018

Q3/18 slightly better than expected

Nexus AG

Target price

 

Recommendation

 

Buy

31 October 2018

sponsored

Further Guidance increase possible

RIB Software SE

Target price

 

Recommendation

 

28 October 2018

sponsored

Lower TP due to higher sales cost

GFT Technologies SE

Target price

 

Recommendation

 

27 September 2018

Initation: Overlooked technological leadership providing upside

PSI Software AG

Target price

 

Recommendation

 

Buy

19 August 2018

Strong investment in IT knowledge

EQS Group AG

Target price

 

Recommendation

 

Buy

12 August 2018

FY 2018 guidance confirmed

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

08 August 2018

Initiation: Profiting from ongoing digitalisation

Reply SPA

Target price

 

Recommendation

 

Buy

27 June 2018

Initiation: Best in class product innovation paired with strong tailwinds

Nexus AG

Target price

 

Recommendation

 

Buy

11 June 2018

Initiation: Consistent growth at a fair price

Nemetschek SE

Target price

 

Recommendation

 

Buy

03 June 2018

Q1-18 characterized by investment offensive

EQS Group AG

Target price

 

Recommendation

 

Buy

13 May 2018

Cautious start into FY 2018

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

23 April 2018

sponsored

RIB and Microsoft join forces

RIB Software SE

Target price

 

Recommendation

 

18 April 2018

sponsored

CMD Feedback

GFT Technologies SE

Target price

 

Recommendation

 

27 March 2018

sponsored

Buying opportunity – on the operational side nothing has changed

RIB Software SE

Target price

 

Recommendation

 

25 March 2018

Under full steam

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

06 March 2018

Prel. FY 2017 figures far above expectations

init innovation in traffic systems SE

Target price

 

Recommendation

 

Buy

01 March 2018

sponsored

Initiation: Massive upside potential from joint venture

RIB Software SE

Target price

 

Recommendation

 

21 February 2018

Growth to be restored

GFT Technologies SE

Target price

 

Recommendation

 

Buy

05 February 2018

Digitalization will support growth

KPS AG

Target price

 

Recommendation

 

Buy