Teamviewer corrects its growth forecast for 2026 and 2027. In particular, the development of the 1E acquisition is not in line with expectations. However, the EBITDA margin forecast has even been raised to 44%. In the third quarter, revenue growth amounted to +4%. The share falls to an all-time low with this news.
As you can easily see $TMV (-0,26 %) Teamviewer is the largest position in our value portfolio. We remain convinced of the company's business development and are logically holding on to the share. Teamviewer's core business is doing well. 1E's problems are mainly concentrated in the US, where the government is saving a lot of money.
Looking at the fundamentals, we have rarely seen such a low valuation for a tech company. At most perhaps Wirecard, but here the figures did not add up. These concerns do not exist with Teamviewer.
