Shared on 19 May 26

NOTE: Liquidity And Delisting Risks Will Ultimately Define Upside Potential

NOTE’s outlook hinges less on demand and more on whether it can keep its stock market listing and secure enough cash to operate without heavily watering down existing owners. Management pauses dividends, points to steady near-term sales and defense orders, but analysts still differ on how much credit the company deserves until funding and execution risks clear.

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Shared on 24 Apr 26

Fair value Increased 9.69%

NOTE: Defense Order And Margin Guidance Will Shape Balanced Outlook

Narrative Update on NOTE The analyst price target for NOTE has shifted from SEK 191 to SEK 209.50, with analysts pointing to updated views on long term revenue growth, profitability, risk, and future P/E as key drivers of the change. Analyst Commentary Recent Street research on FiscalNote highlights how analysts are weighing valuation, balance sheet resilience, and execution risk, which can offer context when you think about similar factors that matter for NOTE.

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Shared on 11 Mar 26

Fair value Decreased 4.50%

NOTE: Updated Assumptions And Defense Order Will Support Balanced Future Outlook

Analysts have adjusted their price target on NOTE to SEK 191 from SEK 200, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News NOTE received an order worth SEK 135 million from a long term Nordic defense customer that is a market leader in its field (Key Developments).

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Shared on 11 Feb 26

NOTE: Refined Assumptions And Steady Fair Value Will Support Future Upside

Analysts have slightly adjusted their price target on NOTE to reflect updated assumptions around discount rate, revenue growth, profit margin and future P/E, while keeping fair value broadly aligned with prior estimates. Valuation Changes Fair Value: Held steady at SEK 200.0, indicating no change in the central valuation output.

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Shared on 27 Jan 26

Fair value Decreased 1.48%

NOTE: Reset Multiple And Solid Q3 Will Support Future Upside Potential

Narrative Update on NOTE Analysts have reduced their price target on NOTE from US$18 to US$7. This reflects a reset valuation multiple while they reference a solid recent Q3 report as support for their updated view.

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Shared on 12 Jan 26

Fair value Decreased 1.46%

NOTE: Reset Multiple And Solid Q3 Will Support Upside Potential

Narrative Update on NOTE Analysts have trimmed their price target on NOTE to US$7 from US$18, reflecting a lower valuation multiple after recent research, while still pointing to what they describe as a solid Q3 showing. Analyst Commentary Recent Street research on NOTE points to a reset valuation framework, with the price target cut to US$7 from US$18, while still highlighting what is described as a solid Q3 report.

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Shared on 14 Dec 25

NOTE: Reset Multiple And Solid Quarter Will Drive Long-Term Upside

Narrative Update on Analyst Price Target Analysts have cut their price target on NOTE to $7 from $18, reflecting a reset valuation multiple. They also point to a solid recent quarterly report as support for the updated outlook.

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Shared on 30 Nov 25

NOTE: Strong Q3 Performance Will Drive Long-Term Upside Despite Sector Re-Rating

Analysts have lowered the price target for NOTE substantially, from $18 to $7, as they cite a reset in valuation multiples despite a solid recent earnings report. Analyst Commentary Market observers have provided updated insights regarding NOTE following the recent adjustment in valuation.

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Shared on 15 Nov 25

NOTE: Solid Third-Quarter Performance Will Support Prospects Despite Market Headwinds

Analysts have lowered their price target for FiscalNote to $7 from $18, citing a reset valuation multiple. This change comes despite what they describe as a solid third-quarter report.

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Shared on 01 Nov 25

Analysts have reaffirmed their fair value estimate for NOTE at $206.00, citing slight refinements in key financial assumptions and a long-term outlook that remains unchanged. Valuation Changes Fair Value Estimate remains unchanged at $206.00.

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Shared on 17 Oct 25

Fair value Decreased 1.90%

Analysts have revised their price target for NOTE downward from $210 to $206. This change reflects adjustments to projected revenue growth and discount rates in their updated outlook.

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Shared on 03 Oct 25

Fair value Increased 25%

Analysts have raised their price target for NOTE from $168.50 to $210.00. They cite expectations of stronger revenue growth, higher profit margins, and a modestly increased discount rate.

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Shared on 01 May 25

Fair value Decreased 10.00%

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Shared on 23 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

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Shared on 17 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

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Shared on 09 Apr 25

Fair value Increased 21%

AnalystConsensusTarget has increased future PE multiple from 12.6x to 15.0x.

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Shared on 02 Apr 25

Fair value Increased 0.40%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

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Shared on 26 Mar 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

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Shared on 13 Mar 25

Fair value Decreased 8.55%

AnalystConsensusTarget has increased revenue growth from 6.9% to 9.5%.

3 views

NOTE: Fair Value Outlook Will Remain Steady As Projections Hold

NOTE: Liquidity And Delisting Risks Will Ultimately Define Upside Potential

NOTE: Defense Order And Margin Guidance Will Shape Balanced Outlook

NOTE: Updated Assumptions And Defense Order Will Support Balanced Future Outlook

NOTE: Refined Assumptions And Steady Fair Value Will Support Future Upside

NOTE: Reset Multiple And Solid Q3 Will Support Future Upside Potential

NOTE: Reset Multiple And Solid Q3 Will Support Upside Potential

NOTE: Reset Multiple And Solid Quarter Will Drive Long-Term Upside

NOTE: Strong Q3 Performance Will Drive Long-Term Upside Despite Sector Re-Rating

NOTE: Solid Third-Quarter Performance Will Support Prospects Despite Market Headwinds

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