Price Target Changed • Oct 03
Price target increased by 16% to €5.00 Up from €4.30, the current price target is provided by 1 analyst. New target price is 17% above last closing price of €4.29. The company is forecast to post earnings per share of €0.17 for next year compared to €0.29 last year. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to €4.29, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 15x in the Software industry in Italy. Total returns to shareholders of 7.2% over the past three years. Announcement • Oct 03
Almaviva S.p.A. proposed to acquire remaining 30.50% stake in Almawave S.p.A. (BIT:AIW) for €39.13 million. Almaviva S.p.A. proposed to acquire remaining 30.50% stake in Almawave S.p.A. (BIT:AIW) for €39.13 million on October 3, 2025. A cash consideration valued at €4.3 per share will be paid by Almaviva S.p.A. The deal is entirely financed with own resources. New Risk • Aug 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 233% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Announcement • Apr 22
Almawave S.p.A., Annual General Meeting, May 06, 2025 Almawave S.p.A., Annual General Meeting, May 06, 2025, at 10:00 W. Europe Standard Time. Reported Earnings • Apr 06
Full year 2024 earnings released Full year 2024 results: Revenue: €51.9m (down 9.7% from FY 2023). Net income: €8.50m (down 8.5% from FY 2023). Profit margin: 16% (in line with FY 2023). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in Italy. Buy Or Sell Opportunity • Mar 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to €3.30. The fair value is estimated to be €2.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to decline by 2.5% in the next 2 years. New Risk • Mar 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €90.8m (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€90.8m market cap, or US$98.6m). 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 June 2024. 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: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to €3.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Software industry in Italy. Total loss to shareholders of 28% over the past three years. New Risk • Jan 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risk Market cap is less than US$100m (€78.9m market cap, or US$82.2m). Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €2.99, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Software industry in Italy. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.99 per share. New Risk • Dec 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (€82.2m market cap, or US$86.4m). Buy Or Sell Opportunity • Nov 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 41% to €2.40. The fair value is estimated to be €3.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to decline by 2.5% in the next 2 years. Major Estimate Revision • Nov 08
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €58.6m to €54.8m. EPS estimate also fell from €0.239 per share to €0.213 per share. Net income forecast to shrink 0.09% next year vs 68% growth forecast for Software industry in Italy . Consensus price target down from €5.35 to €4.75. Share price fell 6.5% to €2.87 over the past week. New Risk • Nov 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €92.0m (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €3.07, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Software industry in Italy. Total loss to shareholders of 42% over the past three years. Major Estimate Revision • Aug 09
Consensus revenue estimates fall by 19% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €72.1m to €58.6m. EPS estimate fell from €0.303 to €0.239 per share. Net income forecast to shrink 0.09% next year vs 55% growth forecast for Software industry in Italy . Consensus price target down from €7.10 to €5.35. Share price fell 6.4% to €3.80 over the past week. Buy Or Sell Opportunity • Aug 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to €4.06. The fair value is estimated to be €5.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Reported Earnings • Mar 20
Full year 2023 earnings released Full year 2023 results: Revenue: €57.5m (up 20% from FY 2022). Net income: €9.30m (up 93% from FY 2022). Profit margin: 16% (up from 10.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Software industry in Italy. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.94, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Software industry in Italy. Total returns to shareholders of 12% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.36 per share. New Risk • Oct 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 4.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 07
First half 2023 earnings released: EPS: €0.11 (vs €0.07 in 1H 2022) First half 2023 results: EPS: €0.11 (up from €0.07 in 1H 2022). Revenue: €27.7m (up 30% from 1H 2022). Net income: €3.11m (up 57% from 1H 2022). Profit margin: 11% (up from 9.2% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in Italy. Reported Earnings • Mar 18
Full year 2022 earnings released Full year 2022 results: Revenue: €48.0m (up 46% from FY 2021). Net income: €4.80m (up 39% from FY 2021). Profit margin: 10.0% (in line with FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Italy. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Luisa Torchia was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Aug 18
Price target increased to €6.45 Up from €6.00, the current price target is an average from 3 analysts. New target price is 55% above last closing price of €4.16. Stock is down 12% over the past year. The company is forecast to post earnings per share of €0.12 for next year compared to €0.14 last year. Price Target Changed • Apr 27
Price target increased to €6.50 Up from €6.00, the current price target is provided by 1 analyst. New target price is 58% above last closing price of €4.11. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.14 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €3.90, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 25x in the Software industry in Italy. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 19% share price gain to €5.59, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 24x in the Software industry in Italy. Reported Earnings • May 27
Full year 2020 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €26.9m (up 26% from FY 2019). Net income: €1.33m (down 35% from FY 2019). Profit margin: 5.0% (down from 9.6% in FY 2019). The decrease in margin was driven by higher expenses.