Huddlestock: Strategic Expansion and Recurring Revenue Surge - Analyst Group

Huddlestock Fintech AS (”Huddlestock” or the ”Company”) has demonstrated a high business pace during the third quarter, continuing to execute on the Company's stated strategy of achieving profitable growth. The strengthened offering within the Investment-as-a-Service has contributed to increased recurring revenues and a robust pipeline of new prospects, which, in combination with a strong value proposition, is expected to contribute to new deals and growth going forward. This, combined with a strong outlook for the Professional Financial division in 2024, justifies a high activity throughout the year 2024. Huddlestock is estimated to reach a revenue of NOK 172M in 2024, and based on an applied EV/S target multiple of 4.1x, a potential fair value of NOK 2.9 (3.2) per share is derived in a Base scenario.

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