Close menu

September 20th, 2021 | 11:05 CEST

wallstreet:online, Commerzbank, MorphoSys - Things are looking up again!

  • Investments
Photo credits:

The stock market environment remains positive. High inflation coupled with low interest rates makes stocks the right investment vehicle. If you are looking for stocks that are noticeably behind the course highs of the last 12 months, you should take a closer look at the following somewhat different companies. Who is ahead at the end of the year?

time to read: 3 minutes | Author: Carsten Mainitz

Table of contents:

    WALLSTREET:ONLINE AG - Management team expanded again

    The smart broker has recently strengthened the management team with three industry experts to support dynamic growth and achieve set goals. Together with the board members Stefan Fischer, Dietmar Gabor and Christian Wendrock-Prechtl, will push the transformation to a digital financial service provider. An application to extend the existing KWG license was submitted back in July.

    Another high priority is to dovetail the wide-ranging stock market portals operated by wallstreet:online AG with the financial offerings of Smartbroker to accelerate growth and leverage synergies. The trading front end is to be completely revamped, and a Smartbroker app developed. Since its launch in 2019, the neobroker has written a success story. At the end of the half-year, the Group had more than 187,000 custody accounts, of which more than 142,000 were Smartbroker customers, with EUR 6.8 billion in assets under management.

    Smartbroker differentiates itself from the broad field of neobrokers, which offer investors, among other things, free stock trading by providing low conditions and, in addition, a wide range of products. The operating Company of Smartbroker is wallstreet:online capital AG., the majority of whose shares are held by the parent company wallstreet:online AG.

    According to preliminary, unaudited figures, the Group increased its revenues by a good half to EUR 23.8 million in the first half of the year. The operating result (EBITDA) before new customer acquisition costs of the Smartbroker almost doubled to EUR 9.0 million. The annual targets were confirmed with group sales of EUR 45 million to EUR 50 million and EBITDA, before Smartbroker customer acquisition costs, of EUR 12.5 million, between EUR 16.5 million and EUR 18.5 million.

    Analysts consistently rate the stock as a Buy. The analysts at Warburg formulate a price target of EUR 34. The experts at GBC even see upside potential for the Berlin-based stock of up to EUR 37.70.

    COMMERZBANK AG - Rumor Mill

    Rumors move prices, and also recently the Commerzbank share. Speculation about a shift in the shareholdings of major shareholders boosted the stock. According to media reports, the financial investor Cerberus, which currently holds around 5% of the share capital, is interested in acquiring the German government's 15.6% stake. Neither Cerberus nor the Federal Ministry of Finance wanted to comment on the rumors.

    In our opinion, such a deal would make little sense. The federal government would sell at a loss, and Cerberus would be tying itself up in too big a knot with the financial institution. Commerzbank is still undergoing far-reaching restructuring, which will continue for some time and initially result in high costs. Nevertheless - the stock is moderately valued, trading at around a quarter of book value and a 2022 P/E of 10.

    In the first 6 months of the current fiscal year, the financial institution had reported a loss of EUR 394 million, almost four times as much as in the same period last year. However, this included planned restructuring charges of nearly EUR 1 billion. That makes it increasingly questionable whether the planned EUR 2 billion to implement the "Strategy 2024" for restructuring will be sufficient. At the moment, analysts are assuming a resumption of the dividend payment for fiscal 2022 at EUR 0.07. However, if higher-than-planned costs are incurred, the next disappointment lurks at this point. On average, analysts rate the stock as "hold" and only allow the financial institution's share an upside potential of 13%.

    MORPHOSYS AG - Is this the liberation blow?

    In the last 12 months, the shares of the biopharmaceutical company have lost about 2/3, which has caused the market capitalization to shrink to EUR 1.4 billion. The acquisition of Constellation Pharma and the slow launch of a new cancer drug had attracted many short-sellers. Many analysts lowered their price targets and ratings in recent weeks.

    Morgan Stanley remains a bullish representative, most recently confirming its "Buy" rating with a target price of EUR 75. Goldman Sachs, Barclays and Deutsche Bank have switched to the "hold" camp with target prices of EUR 42, EUR 47 and EUR 46, respectively. In recent trading days, the stock recovered slightly above the EUR 40 mark. Whether this is only a glimmer of hope or the initiation of a countermovement will be seen soon. Next week, the Company will present at the 10th Baader Investment Conference. On November 10, the Q3 figures will be published.

    All three companies described have opportunities, but the risk side is quite different. As is characteristic for a biopharmaceutical company, MorphoSys is still operating in the red, but a more positive sentiment is emerging. Regardless of the current rumors, the shares of Commerzbank are promising with a medium-term investment horizon. wallstreet:online has the most attractive growth story for us. If analysts are to be believed, the stock has an upside potential of around 60%.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may in the future hold shares or other financial instruments of the mentioned companies or will bet on rising or falling on rising or falling prices and therefore a conflict of interest may arise in the future. conflict of interest may arise in the future. The Relevant Persons reserve the shares or other financial instruments of the company at any time (hereinafter referred to as the company at any time (hereinafter referred to as a "Transaction"). "Transaction"). Transactions may under certain circumstances influence the respective price of the shares or other financial instruments of the of the Company.

    Furthermore, Apaton Finance GmbH reserves the right to enter into future relationships with the company or with third parties in relation to reports on the company. with regard to reports on the company, which are published within the scope of the Apaton Finance GmbH as well as in the social media, on partner sites or in e-mails, on partner sites or in e-mails. The above references to existing conflicts of interest apply apply to all types and forms of publication used by Apaton Finance GmbH uses for publications on companies.

    Risk notice

    Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and etc. on These contents serve information for readers and does not constitute a call to action or recommendations, neither explicitly nor implicitly. implicitly, they are to be understood as an assurance of possible price be understood. The contents do not replace individual professional investment advice and do not constitute an offer to sell the share(s) offer to sell the share(s) or other financial instrument(s) in question, nor is it an nor an invitation to buy or sell such.

    The content is expressly not a financial analysis, but rather financial analysis, but rather journalistic or advertising texts. Readers or users who make investment decisions or carry out transactions on the basis decisions or transactions on the basis of the information provided here act completely at their own risk. There is no contractual relationship between between Apaton Finance GmbH and its readers or the users of its offers. users of its offers, as our information only refers to the company and not to the company, but not to the investment decision of the reader or user. or user.

    The acquisition of financial instruments entails high risks that can lead to the total loss of the capital invested. The information published by Apaton Finance GmbH and its authors are based on careful research on careful research, nevertheless no liability for financial losses financial losses or a content guarantee for topicality, correctness, adequacy and completeness of the contents offered here. contents offered here. Please also note our Terms of use.

    Der Autor

    Carsten Mainitz

    The native Rhineland-Palatinate has been a passionate market participant for more than 25 years. After studying business administration in Mannheim, he worked as a journalist, in equity sales and many years in equity research.

    About the author

    Related comments:

    Commented by Armin Schulz on May 30th, 2023 | 10:00 CEST

    Barrick Gold, Desert Gold, Deutsche Bank - What happens after the US debt ceiling is lifted?

    • Mining
    • Gold
    • Copper
    • Banking
    • Investments

    In the US, the Democrats and Republicans have agreed on a compromise in the debt dispute. This means that the US can take out more loans, which will ultimately result in an increasing money supply. This could further fuel inflation, while on the other hand, it could boost the gold price. In recent months, the gold price has soared due to the turbulence in the banking sector and was able to mark a new high. Nevertheless, this is remarkable because the FED had raised interest rates significantly, which would typically have tended to argue for a falling gold price. If interest rates do not rise further or even fall, this would be another positive signal for gold. We, therefore, look at 2 gold companies and analyze Deutsche Bank.


    Commented by Fabian Lorenz on May 25th, 2023 | 07:40 CEST

    Caution with TUI and Varta! Smartbroker Holding with 85% price potential!

    • Investments
    • travel
    • renewableenergies
    • Batteries

    At around EUR 6, the TUI share is trading at an all-time low. Is now the time to buy into the tourism group? One analyst warns against it and believes the share price could fall by a third. Caution is also advised with Varta. The former German battery hopeful is fighting for survival. Analysts halve the price target and recommend selling the share. And the shareholders' association SdK is also sounding the alarm. A total loss cannot be ruled out. Instead of catching a falling knife, focusing on shares in an upward trend, such as Smartbroker Holding, is worthwhile. The share is one of the current year's high flyers, and analysts believe further price increases of over 80% are possible. Thanks to the new app, EBITDA could increase more than tenfold.


    Commented by Nico Popp on May 22nd, 2023 | 09:55 CEST

    Now things can move very quickly: Amazon, Deutsche Bank, Defence Therapeutics

    • Biotechnology
    • Banking
    • Investments

    The DAX is close to its all-time high, and the S&P 500 and Nasdaq-100 have also made up considerable ground recently. Although the markets are still marked by uncertainty, there are initial positive signals - the indices speak a clear language, although there are still stragglers. We explain how close the next rally is and which stocks could recover significantly in the short term.