Need To Know: One Analyst Is Much More Bullish On 24SevenOffice Scandinavia AB (publ) (NGM:247) Revenues

24SevenOffice Scandinavia AB (publ) (NGM:247) shareholders will have a reason to smile today, with the covering analyst making substantial upgrades to this year's forecasts. The revenue forecast for this year has experienced a facelift, with the analyst now much more optimistic on its sales pipeline.

Following the upgrade, the most recent consensus for 24SevenOffice Scandinavia from its lone analyst is for revenues of kr246m in 2021 which, if met, would be a substantial 41% increase on its sales over the past 12 months. Prior to the latest estimates, the analyst was forecasting revenues of kr214m in 2021. The consensus has definitely become more optimistic, showing a nice gain to revenue forecasts.

View our latest analysis for 24SevenOffice Scandinavia

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. The analyst is definitely expecting 24SevenOffice Scandinavia's growth to accelerate, with the forecast 41% annualised growth to the end of 2021 ranking favourably alongside historical growth of 33% per annum over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 22% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analyst also expect 24SevenOffice Scandinavia to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that the analyst lifted their revenue estimates for this year. The analyst also expects revenues to grow faster than the wider market. Given that the analyst appears to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at 24SevenOffice Scandinavia.

The covering analyst is clearly in love with 24SevenOffice Scandinavia at the moment, but before diving in - you should be aware that we've identified some warning flags with the business, such as dilutive stock issuance over the past year. You can learn more, and discover the 2 other flags 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.

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