Netcompany shares slip after 'soft' Q3, no guidance hike

Netcompany A/S

04/11/2021 09:53

** Shares of Danish IT consultancy firm Netcompany
 NETCG.CO  fall 3.2% after Q3 report  urn:newsml:reuters.com:*:nL8N2RV1LO
    ** The company's quarterly revenue rose year-on-year to DKK
798 million, but came in 3% below estimates, according to
Refinitiv data
    ** Citi says Netcompany posted "soft" quarterly results with
an improved margin performance leading to a smaller 2% miss on
adj. EBITA level
    ** " With consensus already above the previous guidance
range (for revenues) into the results, we believe the unchanged
outlook will likely lead to downward revision in estimates," the
brokerage adds
    ** Today's losses wiped off DKK 946.2 mln from the company's
market cap
    ** Out of eight analysts that cover Netcompany, five rate
the stock "strong buy" or "buy" and ​three rate it "hold"

 (Agnieszka Gosciak)
 ((agnieszka.gosciak@thomsonreuters.com))