Is this the turnaround at GFT
26.09.24 16:00
Global Stock Exchange
GFT Technologies SE recorded a significant price increase of 6.56% to EUR 23.15 on September 26, 2024. The IT service provider benefited from better-than-expected quarterly figures and an optimistic outlook for the year as a whole. Despite the challenging market environment, GFT was able to increase its revenue by 11% to EUR 429.6 million in the first half of the year. The adjusted operating result (EBIT) even increased by 15% to 35.73 million euros.
Growth drivers AI and digitalization
According to the company, the areas of Next Generation Core Banking, technology modernization as well as AI and data developed particularly well. Co-CEO Marco Santos emphasized: "Our core business is healthy and our products and solutions continue to grow." The Executive Board continues to expect significant growth in revenue and profit for the year as a whole. Analysts consider the GFT share to be attractively valued with a P/E ratio of 9.89 for 2024.
BERENBERG rates GFT TECHNOLOGIES AG as a 'Buy'
https://www.wallstreet-online.de/nachricht/18523954-berenberg-stuft-gft-technologies-ag-buy
WARBURG RESEARCH rates GFT TECHNOLOGIES AG to 'Buy'
https://www.wallstreet-online.de/nachricht/18510540-warburg-research-stuft-gft-technologies-ag-buy
https://www.gft.com/de/de/about-us/news
GFT and Engenion won three awards at the Globee Awards for Technology: Most Innovative Company of the Year - Cloud/SaaS, in the Project and Portfolio Management category and for Most Innovative IT Software.
