Industry Analysts Just Upgraded Their Wiit S.p.A. (BIT:WIIT) Revenue Forecasts By 10%

Shareholders in Wiit S.p.A. (BIT:WIIT) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The analysts have sharply increased their revenue numbers, with a view that Wiit will make substantially more sales than they'd previously expected.

Following the upgrade, the most recent consensus for Wiit from its three analysts is for revenues of €162m in 2024 which, if met, would be a major 25% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of €147m in 2024. The consensus has definitely become more optimistic, showing a solid increase in revenue forecasts.

View our latest analysis for Wiit

There was no particular change to the consensus price target of €25.04, with Wiit's latest outlook seemingly not enough to result in a change of valuation.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We would highlight that Wiit's revenue growth is expected to slow, with the forecast 25% annualised growth rate until the end of 2024 being well below the historical 33% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 10% annually. Even after the forecast slowdown in growth, it seems obvious that Wiit is also expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They're also forecasting more rapid revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Wiit.

Looking to learn more? We have analyst estimates for Wiit going out to 2026, and you can see them free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.