Streamwide: share price rises, first half of the year deemed solid
July 16, 2024 at 03:19 pm
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Streamwide shares rose by almost 10% on the stock market on Tuesday, after reporting first-quarter growth deemed "solid" by analysts.
The software publisher for communications and mission-critical activities generated sales of 9.3 million euros in the first six months of the year, up 10%.
In a reaction note, analysts at TP ICAP Midcap describe the first half of the year as "still satisfactory", with growth of 24% in critical communications platforms, a better-than-expected performance.
"Despite a more difficult basis for comparison in the second half, the talk of potential new business opportunities is promising", says the brokerage firm.
Streamwide says it expects second-half revenues to be higher than in the first half, but warns that business growth over the period could be less marked than in 2023.
Euroland's teams - who hail the publication as being "in line" with their expectations - also point out that the first half of the year was marked by strong growth in platform revenues, which now account for 75% of sales.
Following this publication, Euroland says it remains Buy on the stock, with a target price of 35 euros.
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StreamWIDE specializes in publishing software used to supply value-added and new-generation telephone services to fixed and mobile telecom operators. Basing its products on a patented technology, the group offers solutions for unified and convergent e-mail, prepaid account taxation and management, vocal server and interactive video creation, personalized ring tone delivery, etc. Net sales break down by activity as follows:
- sale of licenses (41.5%);
- services (32%);
- maintenance services (26.5%).
Products and services are marketed through direct sales and distributors.
Net sales are distributed geographically as follows: France (80%), Europe (8.5%), the Americas (9.3%), Africa (0.9%), Asia/Pacific (0.8%) and the Middle East (0.5%).
STREAMWIDE 
