Clavister Q1’20: First Comments
Redeye will leave forecasts mostly unchanged on the back of a quick glance at Q1-figures, the key take-away of which were the sales growth, cash-flow improvements and +85% gross margins. Clavister has not seen any impact in its ability to close business deals due to the corona crisis. On the contrary, and as anticipated, demand for its solutions has increased during the current environment. Clavister has not really yet been picked up as a corona play, but we think coming reports may make investors reconsider that notion.
Our current-year forecasts (including growth of 30%) should lend support to the stock if they materialize. Our base case is SEK 18.0 per share..