TeamViewer stock: Upward trend in 2024?

Last Updated: 3. Januar 2024By

The year-end rally for TeamViewer stock has been cancelled in 2023. The shares have dropped by around 20 percent between September and the end of December. However, the software company is on a growth course and is likely to achieve its goals for the past year.

There are opportunities for investors in 2024, as the expensive sponsorship deal with Manchester United comes to an end, resulting in cost savings and increased profitability for TeamViewer. The majority of analysts are also positive about the company. The new year started with a confirmed buy recommendation.

TeamViewer on a growth course – analysts are mostly convinced After 9 months of the 2023 financial year, the remote maintenance specialist has presented convincing figures: With 464 million euros, TeamViewer was able to generate almost 12 percent more revenue than the previous year and present an EBITDA margin of 43 percent. This means that the goals for the full year (revenue between 620 and 645 million euros, EBITDA margin of 40 percent) are absolutely achievable. This could still be a positive surprise for investors.

The majority of analysts are convinced that the TeamViewer stock still has potential for growth. The only exception is JPMorgan, which sees the target price at 14 euros (current price of the TeamViewer stock: 13.60 euros – as of January 3, 2024, around 11 a.m.). RBC Capital confirmed the target price of 19 euros in mid-December (around 40 percent potential). And at the start of the year, Warburg Research confirmed the buy recommendation and target price of 18.50 euros.

TeamViewer stock: Opportunities in 2024 For the TeamViewer stock, the year 2024 will not be a walk in the park. Despite its growth momentum, the stock has not gained traction in recent months. The sale of a large stake by a major shareholder in November also unsettled investors. However, overall, the prospects for the software company in 2024 are at least good.

On the one hand, the 2023 financial year is expected to be successfully completed. On the other hand, the significant cost savings will improve the company’s profitability. This will depend on the nuances of the outlook for the current year. Medium- and long-term oriented investors should definitely keep an eye on the TeamViewer stock for 2024.