TeamViewer, wallstreet:online, Steinhoff - A lot of movement!

TeamViewer - Share price crash in 2021 and little hope for a quick recovery

In 2019, TeamViewer went public and appeared to be a flawless Corona profiteer in 2020. The Company's proprietary software, which provides access to PCs worldwide, was a smash hit. Since its founding in 2005, the Goeppingen-based Company has focused on cloud-based technologies that enable users to collaborate online and provide remote support globally. These range from remote support of customers or employees to location-independent control, monitoring and managing equipment or complex machines and instruments to workflows supported by augmented reality. In total, the software has been installed on more than 2.5 billion devices worldwide.

But in 2021 came the rude awakening. The share price plunged by more than 70% since the beginning of the year. What had happened? TeamViewer caused great displeasure among investors by signing costly marketing agreements. In particular, this concerns the advertising contract with Manchester United, which will cost the Goeppingen-based Company around EUR 46 million per year, or almost 10% of its sales, over the next few years. Due to slower growth in 2021, the group had to lower its forecast twice, and the CFO had to resign. The contract with CEO Oliver Steil, on the other hand, was extended early until 2024. One thing is sure: TeamViewer has lost a great deal of trust. The depressed share price could now turn the Company into a potential takeover candidate.

wallstreet:online - Set for growth

The Berlin-based Company operates the four high-reach stock market portals wallstreet-online.de, boersenNews.de, FinanzNachrichten.de, and ARIVA.de. In the first half of the year, monthly page impressions averaged around 376 million, making the Company the largest publisher-independent financial portal operator in the German-speaking world.

Much more important for future development, however, is the transaction business. Since the launch of the neobroker Smartbroker 2 years ago, dynamic customer growth has been recorded. At the end of the first half of the year, 187,000 securities accounts were counted, of which more than 142,000 were with Smartbroker. Smartbroker differentiates itself in relation to the broad field of the neobroker, which offers investors a free share trade by offering low conditions and a broad product spectrum. The central task now is to better integrate the financial offers of the Smartbroker into the stock market portals and thus leverage synergies and accelerate growth.

To drive the expansion dynamically, the Berliners have recently carried out a capital increase at their subsidiary and at the same time operator of the Smartbroker, wallstreet:online capital AG, amounting to approximately EUR 8 million. As a result, the Berliners now hold more than 95% of the operating Company. According to statements by the Management Board, the parent company intends to pay off the minority shareholders in the first quarter of 2022 as part of a squeeze-out.

For the current financial year, the Berlin-based Company is forecasting an increase in revenue to around EUR 45 to 50 million and an increase in the operating result (EBITDA) to EUR 4 to 6 million. Exceeding the EUR 10 billion threshold in assets under management was recently promised for the beginning of 2022. With a price target of EUR 37.70, the analysts at GBC confirm an upside potential of around 75% for the stock.

Steinhoff - Multiplier

The stock of the troubled retailer has multiplied in 2021. The integrated retailer, which sells, sources and manufactures household goods and general merchandise, focusing on price-conscious consumer segments, was hit by an accounting scandal in 2017.

In the wake of the increasing likelihood of satisfying the last of the plaintiffs, the shares recently made significant gains, even if there was then profit-taking again. A settlement could be imminent. The Western Cape High Court will hear arguments in favor of accepting the main settlement on January 24.

There was a lot of movement on the stock markets in 2021. Whether the crash of a briefly celebrated stock market darling, TeamViewer, or new glimmers of hope at ailing Steinhoff - the capital market is multi-faceted. Company valuation and growth prospects speak clearly in favor of the wallstreet:online share. GBC analysts believe that the shares have an upside potential of around 75%.