Recent Insider Transactions • Feb 23
Insider recently sold €409k worth of stock On the 21st of February, Francois Goalabre sold around 6k shares on-market at roughly €70.00 per share. This transaction amounted to 90% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.0m more than they bought in the last 12 months. New Risk • Feb 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Share price has been volatile over the past 3 months (9.0% average weekly change). Price Target Changed • Feb 14
Price target increased by 8.8% to €66.67 Up from €61.30, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €70.00. Stock is up 33% over the past year. The company is forecast to post earnings per share of €4.15 for next year compared to €4.17 last year. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to €69.80, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the IT industry in France. Total returns to shareholders of 187% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €70.74 per share. Upcoming Dividend • Sep 20
Upcoming dividend of €0.50 per share at 1.0% yield Eligible shareholders must have bought the stock before 27 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of French dividend payers (5.2%). Lower than average of industry peers (1.9%). Reported Earnings • Aug 08
Full year 2023 earnings released: EPS: €4.17 (vs €3.08 in FY 2022) Full year 2023 results: EPS: €4.17 (up from €3.08 in FY 2022). Revenue: €1.02b (up 23% from FY 2022). Net income: €80.5m (up 36% from FY 2022). Profit margin: 7.9% (up from 7.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the IT industry in France. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 21
Now 21% undervalued Over the last 90 days, the stock is up 8.2%. The fair value is estimated to be €70.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 48%. For the next 3 years, revenue is forecast to grow by 9.5% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Reported Earnings • Jun 12
Full year 2023 earnings released: EPS: €4.17 (vs €2.97 in FY 2022) Full year 2023 results: EPS: €4.17 (up from €2.97 in FY 2022). Revenue: €1.02b (up 23% from FY 2022). Net income: €80.5m (up 36% from FY 2022). Profit margin: 7.9% (up from 7.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the IT industry in France. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jun 07
Price target increased by 7.4% to €62.28 Up from €57.98, the current price target is an average from 4 analysts. New target price is 16% above last closing price of €53.90. Stock is up 15% over the past year. The company is forecast to post earnings per share of €3.69 for next year compared to €2.97 last year. Announcement • Jan 17
SII S.A. (ENXTPA:SII) acquired 100% stake in Metanext SAS. SII S.A. (ENXTPA:SII) entered into agreement to acquire 100% stake in Metanext SAS on November 21, 2022. The transaction, which covers the entire operational scope of METANEXT, is financed in cash. KPMG acted as financial advisor, KPMG Avocats acted as legal advisor and CJ Astorg acted as advisor to the buyer. METANEXT realized a turnover of nearly €18 million in 2021.SII S.A. (ENXTPA:SII) completed the acquisition of 100% stake in Metanext SAS on January 16, 2023. Buying Opportunity • Jan 05
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €55.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has grown by 34%. Upcoming Dividend • Sep 21
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 28 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of French dividend payers (5.8%). Lower than average of industry peers (1.8%). Price Target Changed • Aug 17
Price target decreased to €45.65 Down from €56.10, the current price target is an average from 2 analysts. New target price is 14% below last closing price of €52.80. Stock is up 42% over the past year. The company is forecast to post earnings per share of €3.49 for next year compared to €2.97 last year. Major Estimate Revision • Aug 12
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from €898.0m to €956.5m. EPS estimate increased from €3.17 to €3.49 per share. Net income forecast to grow 13% next year vs 22% growth forecast for IT industry in France. Consensus price target up from €56.10 to €58.15. Share price rose 11% to €52.10 over the past week. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €39.40, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the IT industry in France. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €70.22 per share. Reported Earnings • Dec 29
First half 2022 earnings: EPS and revenues exceed analyst expectations First half 2022 results: EPS: €1.40 (up from €0.36 in 1H 2021). Revenue: €376.3m (up 25% from 1H 2021). Net income: €27.9m (up 286% from 1H 2021). Profit margin: 7.4% (up from 2.4% in 1H 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Earnings per share (EPS) surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 9.4%, compared to a 9.4% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Dec 10
Consensus EPS estimates increase to €2.33 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €751.7m to €759.3m. EPS estimate increased from €1.93 to €2.33 per share. Net income forecast to grow 73% next year vs 23% growth forecast for IT industry in France. Consensus price target up from €47.65 to €54.15. Share price rose 8.7% to €44.80 over the past week. Price Target Changed • Dec 08
Price target increased to €54.15 Up from €45.55, the current price target is an average from 2 analysts. New target price is 20% above last closing price of €45.10. Stock is up 83% over the past year. The company is forecast to post earnings per share of €1.93 for next year compared to €1.25 last year. Upcoming Dividend • Sep 15
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 22 September 2021. Payment date: 24 September 2021. Trailing yield: 0.4%. Lower than top quartile of French dividend payers (3.9%). Lower than average of industry peers (1.2%). Price Target Changed • Aug 13
Price target increased to €45.55 Up from €34.90, the current price target is provided by 1 analyst. New target price is 14% above last closing price of €40.00. Stock is up 101% over the past year. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 18% share price gain to €41.40, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 21x in the IT industry in France. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €27.21 per share. Reported Earnings • Aug 01
Full year 2021 earnings released: EPS €1.25 (vs €1.36 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €654.2m (down 3.3% from FY 2020). Net income: €24.9m (down 8.3% from FY 2020). Profit margin: 3.8% (down from 4.0% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Price Target Changed • Jun 15
Price target increased to €34.90 Up from €30.45, the current price target is an average from 2 analysts. New target price is 19% above last closing price of €29.30. Stock is up 36% over the past year. Price Target Changed • May 14
Price target increased to €30.45 Up from €28.15, the current price target is an average from 2 analysts. New target price is 16% above last closing price of €26.30. Stock is up 38% over the past year. Is New 90 Day High Low • Mar 05
New 90-day high: €25.50 The company is up 11% from its price of €23.00 on 04 December 2020. The French market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.85 per share. Major Estimate Revision • Feb 18
Analysts increase EPS estimates to €1.17 The 2021 consensus revenue estimate increased from €641.9m to €658.8m. The earnings per share estimate also received an upgrade from €1.06 to €1.17 for the same period. Net income is expected to shrink by 4.5% next year compared to 1.9% growth forecast for the IT industry in France . The consensus price target increased from €28.15 to €29.55. Share price is up 2.7% to €22.60 over the past week. Price Target Changed • Feb 12
Price target raised to €29.55 Up from €26.70, the current price target is an average from 2 analysts. The new target price is 31% above the current share price of €22.50. As of last close, the stock is down 18% over the past year. Is New 90 Day High Low • Jan 08
New 90-day high: €25.40 The company is up 30% from its price of €19.50 on 09 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.36 per share. Major Estimate Revision • Dec 22
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from €0.90 to €1.06. Revenue estimate for the same period was approximately flat at €641.9m. Net income is expected to shrink by 37% next year compared to 5.4% growth forecast for the IT industry in France . The consensus price target increased from €24.85 to €26.70. Share price is up 4.2% to €24.90 over the past week. Is New 90 Day High Low • Dec 22
New 90-day high: €24.90 The company is up 26% from its price of €19.75 on 23 September 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.00 per share. Price Target Changed • Dec 22
Price target raised to €26.70 Up from €24.85, the current price target is an average from 2 analysts. The new target price is 11% above the current share price of €24.00. As of last close, the stock is down 17% over the past year. Major Estimate Revision • Dec 11
Analysts update estimates The 2021 consensus earning per share (EPS) estimate was lowered from €0.68 to €0.51. Revenue estimate was approximately flat at €640.9m. Net income is expected to shrink by 64% next year compared to 5.4% growth forecast for the IT industry in France . The consensus price target of €24.85 was unchanged from the last update. Share price stayed mostly flat at €23.20 over the past week. Is New 90 Day High Low • Dec 07
New 90-day high: €23.20 The company is up 15% from its price of €20.10 on 08 September 2020. The French market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.63 per share. Is New 90 Day High Low • Nov 19
New 90-day high: €21.10 The company is up 5.0% from its price of €20.10 on 21 August 2020. The French market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.71 per share. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 17% share price gain to €19.20, the stock is trading at a trailing P/E ratio of 14.1x, up from the previous P/E ratio of 12.1x. This compares to an average P/E of 17x in the IT industry in France. Total return to shareholders over the past three years is a loss of 11%. Is New 90 Day High Low • Oct 26
New 90-day low: €18.10 The company is down 13% from its price of €20.70 on 28 July 2020. The French market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €29.42 per share. Major Estimate Revision • Oct 01
Analysts lower EPS estimates to €0.75 The 2021 consensus revenue estimate was lowered from €668.9m to €646.3m. Earning per share (EPS) estimate was also lowered from €1.03 to €0.75 for the same period. Net income is expected to shrink by 54% next year compared to 2.0% decline forecast for the IT industry in France. The consensus price target of €24.70 was unchanged from the last update. Share price stayed mostly flat at €19.75 over the past week.