Reported Earnings • Apr 06
Full year 2025 earnings released: EPS: €1.33 (vs €3.43 in FY 2024) Full year 2025 results: EPS: €1.33 (down from €3.43 in FY 2024). Revenue: €640.3m (down 22% from FY 2024). Net income: €13.9m (down 60% from FY 2024). Profit margin: 2.2% (down from 4.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the IT industry in Italy. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 25% per year. Board Change • Mar 06
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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Lead Independent Director Maria Mosconi was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Mar 06
OEP IX Master Coöperatief U.A., a fund managed by OEP Capital Advisors L.P. completed the acquisition of 59.29% stake in Digital Value S.p.A. (BIT:DGV) from DV Holding S.p.A. OEP IX Master Coöperatief U.A., a fund managed by OEP Capital Advisors L.P. signed a sale and purchase agreement to acquire 59.29% stake in Digital Value S.p.A. (BIT:DGV) from DV Holding S.p.A. for approximately €175 million on October 20, 2025. A cash consideration valued at €29 per share will be paid by OEP Capital Advisors L.P. The purchase price is fixed and will not be subject to any adjustments after the closing of the transaction.
The Closing is subject to the fulfilment of certain conditions precedent regarding, inter alia, (a) the obtainment of all authorizations and consents required by law, including those authorizations required by the EU antitrust authority and Compliance with the Golden Power legislation (FDI clearance), and (b) the lack of occurrence of certain material events between the date of signing of the Sale and Purchase Agreement and the Closing date which impact (or may impact) or disrupt (or may disrupt) the business and/or financial conditions/prospects of the Digital Value companies. Following the Closing, pursuant to the Sale and Purchase Agreement, the Purchaser (or BidCo, as the case may be) will hold the Controlling Interest, representing a percentage of the corporate capital of Digital Value not lower than 57.8%. Upon completion of such acquisition, a mandatory public tender offer will be launched by OEP IX Master Coöperatief U.A. (either directly or through an affiliate) on the remaining outstanding share capital of Digital Value S.p.A., aimed at obtaining the delisting.
The closing of the transaction is expected to take place by January 2026. On February 5, 2026, the transaction has been approved by the European Union.
Vittorio Palladino, Andrew Dunn and Tim Borneck. Giulio Godi and Edoardo Schiavina of Equita SIM S.p.A. acted as financial advisor for OEP Capital Advisors L.P. Allen Overy Shearman Sterling - Studio Legale Associato acted as legal advisor for OEP Capital Advisors L.P. Bonelli Erede Pappalardo Studio Legale acted as legal advisor for DV Holding S.p.A. DGPA & Co. S.r.l. acted as financial advisor for DV Holding S.p.A. Monia Giustozzi, Melchiorre Sorrentino and Marta Simionato of PricewaterhouseCoopers Advisory S.p.A. acted as due diligence advisor to OEP Capital Advisors L.P. PWC TLS Associazione Professionale di Avvocati e Commercialisti acted as legal advisor to OEP Capital Advisors L.P. Clairfield International acted as financial advisor to OEP Capital Advisors L.P.
OEP IX Master Coöperatief U.A., a fund managed by OEP Capital Advisors L.P. completed the acquisition of 59.29% stake in Digital Value S.p.A. (BIT:DGV) from DV Holding S.p.A. on March 5, 2026. New Risk • Oct 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (2.8% net profit margin). Duyuru • Oct 21
Funds managed by OEP Capital Advisors L.P. signed a sale and purchase agreement to acquire 57.81% stake in Digital Value S.p.A. (BIT:DGV) from DV Holding S.p.A. for approximately €170 million. Funds managed by OEP Capital Advisors L.P. signed a sale and purchase agreement to acquire 57.81% stake in Digital Value S.p.A. (BIT:DGV) from DV Holding S.p.A. for approximately €170 million on October 20, 2025. A cash consideration valued at €29 per share will be paid by OEP Capital Advisors L.P. The purchase price is fixed and will not be subject to any adjustments after the closing of the transaction.
The Closing is subject to the fulfilment of certain conditions precedent regarding, inter alia, (a) the obtainment of all authorizations and consents required by law, including those authorizations required by the EU antitrust authority and Compliance with the Golden Power legislation (FDI clearance), and (b) the lack of occurrence of certain material events between the date of signing of the Sale and Purchase Agreement and the Closing date which impact (or may impact) or disrupt (or may disrupt) the business and/or financial conditions/prospects of the Digital Value companies. Following the Closing, pursuant to the Sale and Purchase Agreement, the Purchaser (or BidCo, as the case may be) will hold the Controlling Interest, representing a percentage of the corporate capital of Digital Value not lower than 57.8%. Upon completion of such acquisition, a mandatory public tender offer will be launched by OEP IX Master Coöperatief U.A. (either directly or through an affiliate) on the remaining outstanding share capital of Digital Value S.p.A., aimed at obtaining the delisting.
The closing of the transaction is expected to take place by January 2026.
The One Equity Partners team was led by Vittorio Palladino, Andrew Dunn and Tim Borneck. Giulio Godi and Edoardo Schiavina of Equita SIM S.p.A. acted as financial advisor for OEP Capital Advisors L.P. Allen Overy Shearman Sterling - Studio Legale Associato acted as legal advisor for OEP Capital Advisors L.P. Bonelli Erede Pappalardo Studio Legale acted as legal advisor for DV Holding S.p.A. DGPA & Co. S.r.l. acted as financial advisor for DV Holding S.p.A. Reported Earnings • Oct 01
First half 2025 earnings released: EPS: €0.57 (vs €2.22 in 1H 2024) First half 2025 results: EPS: €0.57 (down from €2.22 in 1H 2024). Revenue: €302.0m (down 33% from 1H 2024). Net income: €6.23m (down 72% from 1H 2024). Profit margin: 2.1% (down from 4.9% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the IT industry in Italy. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. New Risk • Oct 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.8% Last year net profit margin: 4.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin). Upcoming Dividend • Jun 30
Upcoming dividend of €0.80 per share Eligible shareholders must have bought the stock before 07 July 2025. Payment date: 09 July 2025. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Italian dividend payers (5.3%). Higher than average of industry peers (1.0%). New Risk • Jun 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 42% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (42% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €30.75, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the IT industry in Italy. Total loss to shareholders of 48% over the past three years. Declared Dividend • May 19
Dividend reduced to €0.80 Dividend of €0.80 is 16% lower than last year. Ex-date: 7th July 2025 Payment date: 9th July 2025 Dividend yield will be 3.0%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.7% per year over the past 2 years and payments have been stable during that time. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend. Duyuru • May 17
Digital Value S.p.A. announces Annual dividend, payable on July 09, 2025 Digital Value S.p.A. announced Annual dividend of EUR 0.8000 per share payable on July 09, 2025, ex-date on July 07, 2025 and record date on July 08, 2025. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to €25.00, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 15x in the IT industry in Italy. Total loss to shareholders of 63% over the past three years. New Risk • May 02
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (39% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 02
Full year 2024 earnings released Full year 2024 results: Revenue: €815.8m (down 3.7% from FY 2023). Net income: €34.8m (down 9.4% from FY 2023). Profit margin: 4.3% (down from 4.5% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the IT industry in Italy. New Risk • Apr 30
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 (11% 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 • Mar 31
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to €14.00, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 16x in the IT industry in Italy. Total loss to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €23.95, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 18x in the IT industry in Italy. Total loss to shareholders of 79% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €17.06, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 19x in the IT industry in Italy. Total loss to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €13.04, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 19x in the IT industry in Italy. Total loss to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €11.90, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 14x in the IT industry in Italy. Total loss to shareholders of 87% over the past three years. Price Target Changed • Oct 17
Price target decreased by 30% to €70.00 Down from €99.50, the current price target is provided by 1 analyst. New target price is 419% above last closing price of €13.50. Stock is down 70% over the past year. The company is forecast to post earnings per share of €4.30 for next year compared to €3.86 last year. Reported Earnings • Sep 27
First half 2024 earnings released First half 2024 results: Revenue: €450.7m (up 8.4% from 1H 2023). Net income: €22.3m (up 31% from 1H 2023). Profit margin: 4.9% (up from 4.1% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Italy. Duyuru • Jul 31
Digital Value S.p.A. (BIT:DGV) signed a binding offer to acquire Italtel S.p.A. for €120 million. Digital Value S.p.A. (BIT:DGV) signed a binding offer to acquire Italtel S.p.A. for €120 million on July 30, 2024. Nextalia has committed to procure the sale of, for a total fixed consideration, not subject to adjustments, of €120 million, to be paid as follows: €90 million, on the closing date of the transaction; and €30 million on June 20, 2025. The binding offer includes the acquisition of 100% of Italtel’s share capital, currently held approximately 71.38% by Nextalia, and approximately 28.62% by Clessidra Capital Credit SGR S.p.A., on behalf of the fund named Clessidra Restructuring Fund. The completion of the transaction will be subject to the transaction being approved, not prohibited, or otherwise permitted under exemption by the competent antitrust and golden power authorities and the signing of a financing agreement with one or more credit institutions and the subsequent disbursement on the closing date in favor of Digital Value of an amount not exceeding the consideration of the sale. Italtel has reported revenues of €270 million and EBITDA of €11.1 million in 2023. Digital Value has, for this purpose, initiated negotiations with some leading Italian credit institutions. the signing of the sale and purchase agreement (“SPA”) will take place in the coming days, while the closing of the transaction will occur after the fulfillment of the aforementioned suspensive conditions. Upcoming Dividend • Jun 24
Upcoming dividend of €0.95 per share Eligible shareholders must have bought the stock before 01 July 2024. Payment date: 03 July 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Italian dividend payers (5.5%). Higher than average of industry peers (0.9%). Reported Earnings • May 03
Full year 2023 earnings released Full year 2023 results: Revenue: €847.4m (up 20% from FY 2022). Net income: €38.4m (up 13% from FY 2022). Profit margin: 4.5% (down from 4.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 10% growth forecast for the IT industry in Italy. Buy Or Sell Opportunity • Feb 29
Now 21% undervalued Over the last 90 days, the stock has risen 5.6% to €58.10. The fair value is estimated to be €73.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. New Risk • Jan 30
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 5.6% 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: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.6% average weekly change). Buying Opportunity • Nov 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €69.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 52% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €51.90, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the IT industry in Italy. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €72.88 per share. Reported Earnings • Sep 24
First half 2023 earnings released First half 2023 results: Revenue: €415.5m (up 23% from 1H 2022). Net income: €17.1m (up 1.3% from 1H 2022). Profit margin: 4.1% (down from 5.0% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the IT industry in Italy. Buying Opportunity • Sep 21
Now 20% undervalued Over the last 90 days, the stock is up 4.6%. The fair value is estimated to be €77.97, 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 21%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Buying Opportunity • Sep 04
Now 20% undervalued Over the last 90 days, the stock is up 3.0%. The fair value is estimated to be €81.51, 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 21%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Duyuru • Jul 18
Digital Value S.p.A. (BIT:DGV) acquired A 76 SRL. Digital Value S.p.A. (BIT:DGV) acquired A 76 SRL on July 17, 2023.Digital Value S.p.A. (BIT:DGV) completed the acquisition of A 76 SRL on July 17, 2023. Buying Opportunity • May 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.6%. The fair value is estimated to be €78.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Buying Opportunity • Apr 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €79.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Reported Earnings • Mar 17
Full year 2022 earnings released Full year 2022 results: Revenue: €708.5m (up 27% from FY 2021). Net income: €33.9m (up 13% from FY 2021). Profit margin: 4.8% (down from 5.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.6% decline forecast for the IT industry in Italy. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). MD & Executive Director Paolo Vantellini is the most experienced director on the board, commencing their role in 2020. Independent Director Mario Vitale 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. Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 09
First half 2022 earnings released: EPS: €0 (vs €1.36 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €337.2m (up 32% from 1H 2021). Net income: €16.9m (up 24% from 1H 2021). Profit margin: 5.0% (down from 5.3% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the IT industry in Italy. Price Target Changed • Aug 18
Price target decreased to €110 Down from €122, the current price target is an average from 4 analysts. New target price is 62% above last closing price of €67.90. Stock is down 27% over the past year. The company is forecast to post earnings per share of €3.74 for next year compared to €3.02 last year. Price Target Changed • May 23
Price target decreased to €113 Down from €122, the current price target is provided by 1 analyst. New target price is 56% above last closing price of €72.00. Stock is up 33% over the past year. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 1 independent director. 6 non-independent directors. President of Statutory Auditors Roberto Moro was the last 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. Lack of board continuity. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 16% share price gain to €118, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 26x in the Software industry in Italy. Total returns to shareholders of 954% over the past three years. Reported Earnings • Oct 03
First half 2021 earnings released: EPS €1.36 (vs €1.07 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €256.4m (up 22% from 1H 2020). Net income: €13.6m (up 29% from 1H 2020). Profit margin: 5.3% (up from 5.0% in 1H 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 15% share price gain to €55.90, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Software industry in Italy. Total returns to shareholders of 178% over the past year. Reported Earnings • Apr 02
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €442.3m (up 21% from FY 2019). Net income: €24.1m (up 27% from FY 2019). Profit margin: 5.4% (up from 5.2% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Feb 11
New 90-day high: €43.50 The company is up 33% from its price of €32.60 on 13 November 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 26% over the same period. Is New 90 Day High Low • Jan 14
New 90-day high: €41.70 The company is up 35% from its price of €31.00 on 15 October 2020. The Italian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: €38.60 The company is up 29% from its price of €30.00 on 30 September 2020. The Italian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 12
New 90-day high: €33.50 The company is up 7.0% from its price of €31.20 on 11 September 2020. The Italian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 4.0% over the same period. Is New 90 Day High Low • Oct 19
New 90-day high: €32.90 The company is up 23% from its price of €26.80 on 21 July 2020. The Italian market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is flat over the same period.