Teamviewer shares – a clear buy at the current price level – again. Platow Brief finds good reasons for a BUY from the former Corona winner. And is the Teamviewer share (ISIN: Is the stock (DE000A2YN900) really a buy at the current price level? Platow thinks the stock is currently valued well and is positioning himself in this value. He takes a stand and gives his usual clear recommendations. And what does that mean for the investor? Read. And then act? Wouldn’t have done any harm in the past…
The Q2 figures presented by American competitor Zoom on Wednesday evening (21 August) (moderate increase in sales, higher margins and a strong enterprise business) fit the picture that was also shown by the results of Teamviewer (31 July). The difference is that the Swabian company has not (yet) raised its annual targets. Chief Financial Officer Michael Wilkens has so far “only” confirmed the forecast, but does so “with full confidence”.
After a relatively strong first half of the year with 9% sales growth and an EBITDA margin of 40.7%, the remote maintenance software specialist wants to grow between 7 and 11% for the full year, adjusted for currency effects, and increase the margin to at least 43%. In addition to the typical seasonality (Q4 in particular stands out), the lower costs for sponsoring the Manchester United football club are also pushing the profit margin. The bottom line is that Teamviewer should be able to achieve an EPS of around EUR 0.80, so that a 2024 P/E ratio of 15 is calculated for the MDAX share (EUR 12.08; DE000A2YN900). This is favorable in historical comparison and also in view of the high margins (profit and cash flow) and the expected sales growth.
AND DO YOU LIKE THE CLEAR STATEMENTS OF OUR GUEST CONTRIBUTION FROM THE CURRENT PLATOW LETTER? We will present you with an excerpt from the current issue over the next few weeks and if you like it:
CEO Oliver Steil believes he is “on the right track” in the transition to a more business-oriented group. Investments in experienced salespeople and very successful partnerships (especially SAP, Siemens and Microsoft) have led to a boom in business with large companies (Q2 sales: +21%). The share price rose 25% to EUR 13.70 after the figures were released and has been consolidating since then. tk
