Kurs The United Internet stock price is soaring due to a positive 2024 outlook.

Last Updated: 20. Dezember 2023By

The United Internet stock is one of the biggest winners of the morning (as of December 20th, around 1PM) with a jump of more than 9 percent after the presentation of its goals for the upcoming year 2024. The stock of the internet provider is quickly approaching its previous yearly high from January.

The reason lies in the company’s expectation of further growth in revenue and earnings for next year. United Internet also plans to continue to invest in its own mobile and fiber optic networks. Investors should keep an eye on the United Internet stock, as the downward trend of the last few years appears to have been stopped.

For the year 2024, United Internet has achieved an EBITDA of 996 million euros (plus 1 percent) in the first nine months of the year despite the expenses for the expansion of its fiber optic and mobile networks. In the total of 2023 it should be 1.29 billion euros and the turnover should amount to 6.2 billion euros.

Now United Internet has also published its forecast for the coming year: the turnover is expected to increase by about 5 percent to around 6.5 billion euros. The EBITDA should be increased to 1.42 billion euros in 2024. At the same time, the provider also wants to make high investments in its own mobile and fiber optic networks next year.

The forecast for 2024 was met with expected enthusiasm from investors. With a further increase in turnover and profit compared to 2023, the MDAX company is also on a good track compared to the competition. In the morning trading, the United Internet stock rose by almost 9 percent, and in the last 6 months it has gained a whopping 70 percent.

This means that the paper has definitely left the valley behind – in July the stock was trading at around 12 euros, as low as it had been in more than 10 years. After the new forecast, Warburg Research also analyzed the title. The buy vote was confirmed and the target price was left at 40 euros. Based on the current level, this means a potential of around 80 percent.