Stock Analysis

News Flash: Analysts Just Made A Notable Upgrade To Their Nimbus Group AB (Publ) (STO:BOAT) Forecasts

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Nimbus Group AB (Publ) (STO:BOAT) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the latest upgrade, the two analysts covering Nimbus Group provided consensus estimates of kr1.7b revenue in 2023, which would reflect a discernible 3.5% decline on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of kr1.5b in 2023. The consensus has definitely become more optimistic, showing a substantial gain in revenue forecasts.

See our latest analysis for Nimbus Group

OM:BOAT Earnings and Revenue Growth March 15th 2023

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. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 3.5% by the end of 2023. This indicates a significant reduction from annual growth of 25% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 8.7% per year. It's pretty clear that Nimbus Group's revenues are expected to perform substantially worse 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 also expect company revenue to perform worse than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Nimbus Group.

Analysts are clearly in love with Nimbus Group at the moment, but before diving in - you should be aware that we've identified some warning flags with the business, such as recent substantial insider selling. You can learn more, and discover the 4 other warning signs we've identified, for 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.

Valuation is complex, but we're helping make it simple.

Find out whether Nimbus Group is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

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