Qbeyond: Q1 preview: Soft start but case remains intact; Chg. - NuWays AG Research

QBY will release its Q1’26 figures next Monday. Given the still challenging macroeconomic and geopolitical environment weighing on IT spending across the German Mittelstand, we expect a soft quarter with both revenues and EBITDA declining yoy. While this is unsurprising in the context of ongoing demand headwinds and planned investment activity, we continue to view the FY targets as achievable.

The stock hence remains a BUY with a new PT of € 5.90 based on DCF. Stock is removed from our NuWays Alpha List due to the continued short-term headwinds.

Länk till analysen i sin helhet: https://www.nuways-ag.com/company/qbeyond-ag/research/q1-preview-soft-start-but-case-remains-intact-chg