Metzler covers Scout24 with 'buy' on AI advantage

Scout24 SE

22/01/2026 13:05

** Metzler resumes coverage of Scout24 G24n.DE with "buy", expecting the German online property platform's AI investments to deliver business advantage over sector peers

** "Not only is Scout24's cost base comparably higher than UK peers when it comes to personnel expenses, but related efficiency metrics (e.g. revenue per employee), also show catch-up potential, a gap which we believe AI can help close," Metzler analyst Felix Dennl says

** The broker points to investments of 400 million euros ($468 million) since 2021 in data, technology infrastructure and products such as virtual search assistants and content generation tools

** Metzler expects incremental gains in Scout24's large language model-based traffic, which the broker estimates at about 1% currently, noting also "headcount optimisation opportunities" and marketing spend efficiencies as sources of growth through 2027

** It sets the target price at 118 euros after the stock lost around a third of its value since July

** The company's share price is up nearly 1.4% at 1245 GMT

 (Reporting by Danny Callaghan)

 ((danny.callaghan@thomsonreuters.com))