Navigating effectively in a dynamic market
MGI’s Q1 revenues increased organically by 21%, slightly ahead of our estimates. At the same time, the adjusted operating profit fell short of our expectations due to higher operating costs than estimated. The new guidance for 2024 was in line with our estimates; however, following the announcement of the Google Cloud deal, we have raised our mid-term earnings estimates. Nonetheless, given the recent surge in the share price, indicating that the market has been pricing in improved financials, we believe that the current price levels present a moderate risk/reward ratio.
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Verve
20.85
24
Accumulate
Buy
Verve (Ticker: VER) is a fast-growing, profitable, digital media company that provides AI-driven ad-software solutions. Verve matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with the mission, “Let’s make media better,” the company focuses on enabling better outcomes for brands, agencies, and publishers with responsible advertising solutions, with an emphasis on emerging media channels. Verve’s main operational presence is in North America and Europe. Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has three secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market.
Read more on company pageKey Estimate Figures08.05.
| 2023 | 24e | 25e | |
|---|---|---|---|
| Revenue | 322.0 | 366.8 | 399.9 |
| growth-% | -0.76 % | 13.91 % | 9.03 % |
| EBIT (adj.) | 76.9 | 81.2 | 80.1 |
| EBIT-% (adj.) | 23.89 % | 22.15 % | 20.04 % |
| EPS (adj.) | 0.15 | 0.16 | 0.20 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | 6.78 | 20.01 | 15.82 |
| EV/EBITDA | 3.58 | 8.19 | 7.68 |
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