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NEM - Nemetschek SE News Story

€76.62 0.4  0.5%

Last Trade - 4:35pm

Sector
Technology
Size
Large Cap
Market Cap £7.39bn
Enterprise Value £7.37bn
Revenue £548.9m
Position in Universe 135th / 1058

BUZZ-Nemetschek drops as 'solid results not enough'

Thu 28th October, 2021 9:22am
** Shares in Nemetschek  NEKG.DE  drop 7% and are set for
their worst day in 11 months although the German-based
construction software developer reported a surge on Q3 profit
lines, said it expect to reach upper end of its FY guidance
 urn:newsml:reuters.com:*:nASN001T8K
    ** Analyst Knut Woller at Baader Helvea and David Vignon at
Bryan Garnier point to strong share price momentum in the run-up
of Q3 results as a reason for the share reaction
    ** "Solid results broadly in-line with expectations were not
enough to sustain the very high valuation," Vignon told Reuters,
adding that the market was likely pricing in a much better
performance than anticipated by analysts
    ** Warburg Research analyst Andreas Wolf notes that growth
was sequentially slower (14% in Q3 vs. 17% Q2) vs market
expectations of at least the same growth pace as in Q2
    ** The stock gained about 40% since the end of July, when
the company raised its FY forecast on top of strong Q2 results
 urn:newsml:reuters.com:*:nASN001HIL
    ** Stock at bottom of German midcap index  .MDAXI 

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))
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