MGI: Risk-to-reward ratio still attractive
MGI’s Q4 figures came in at the top end of the guidance beating our estimates. We raised our 2023-2024 estimates regarding operating profit slightly considering the strong underlying performance of Q4 and our somewhat more positive outlook for current year. At the current market price MGI’s valuation is still rather low. We reiterate our Buy recommendation and raise the target price to 26 SEK (prev. 23 SEK).
Verve
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 Figures01.03.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 324.4 | 353.9 | 399.1 |
growth-% | 28.66 % | 9.07 % | 12.78 % |
EBIT (adj.) | 76.6 | 68.9 | 74.4 |
EBIT-% (adj.) | 23.60 % | 19.48 % | 18.64 % |
EPS (adj.) | 0.19 | 0.18 | 0.21 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 9.25 | 18.93 | 15.74 |
EV/EBITDA | 6.43 | 8.82 | 7.92 |