The Cancom stock has been able to make up for the losses from 2023 in the last approximately 3 weeks and the recent quarterly figures have also given the Cancom paper a boost. The IT systems house is on a solid path overall in the current year, but the environment continues to weigh.

In terms of revenue, Cancom has been particularly convincing lately – the acquisition of K-Businesscom is already paying off. In the coming weeks and months it will be important for the company whether the demand situation develops positively as hoped. The majority of analysts see further price potential in the Cancom stock, but the experts are not in agreement.

In the third quarter, Cancom’s revenue rose sharply by 26 percent to 415 million euros. The good revenue development is mainly due to the acquisition of K-Businesscom, which is already having a positive effect on the Group.

After 9 months of the year Cancom has cracked the billion mark (1.063 billion euros) in terms of revenue, an increase of around 15 percent compared to 2022. However, profit has declined – from 27.3 to 24.9 million euros.

As part of the nine-month figures, Cancom has now confirmed the revised forecast after the half-year. In 2023, revenue is expected to be between 1.52 and 1.58 billion euros and EBITDA between 116 and 126 million euros.

Cancom share has catch-up potential – but the environment must be right The Cancom share has performed weakly in recent years, since autumn 2021 the price of the paper has roughly halved. And also in 2023 the title has so far not been able to deliver. In recent weeks, the Cancom share has exploded and has gained almost 30 percent – is this now the beginning of the turnaround?

That is quite possible if demand finally picks up again. Cancom is optimistic for the fourth quarter and beyond, but a surge in demand in the current environment is not secure in the coming months. This also depends on the short-term development of the Cancom share. A strong fourth quarter should give the paper an impetus.

The analysts are also not entirely in agreement about where the Cancom share is heading. Jefferies (hold position, target price 27 euros) and DZ Bank (sell, fair value 21 euros) are rather pessimistic about the title. Hauck & Aufhäuser and Warburg Research, on the other hand, are confident with a price potential of around 40 percent.