November 25th, 2021 | 10:21 CET
wallstreet:online, flatexDEGIRO, Commerzbank - Here are the winners for 2022!
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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.
wallstreet:online - Undervalued
At a price of around EUR 20, the shares of the largest independent operator of high-reach stock market portals in the German-speaking world offer an excellent entry level for investors with a medium-term horizon. In mid-June, EUR 26.60 had to be paid as part of a capital increase, bringing EUR 19.1 million gross into the Company's coffers for further expansion. In the past months, several insiders bought the shares, which is a strong sign of confidence. The analysts at GBC give the stock, which they rate as a "buy", a target price of EUR 37.70. That is an upside of over 80%!
Where does the fantasy come from? The answer: transaction business. With the "neobroker" Smartbroker, which went to market at the end of 2019, the Berliners made a smart move. The central task now is to better integrate the Smartbroker's financial offerings into the stock market portals and thus leverage synergies and accelerate growth. Smartbroker differentiates itself to the broad field of neobrokers, which offer investors free stock trading, among other things, by providing low conditions and additionally a comprehensive product range.
Smartbroker is currently in the process of completely revamping the trading front-end. In addition, the Smartbroker app will be launched next year. In our opinion, the associated investment costs will quickly pay for themselves. At the half-year point, the Group had more than 187,000 securities accounts, of which more than 142,000 were Smartbroker customers, with assets under management of EUR 6.8 billion. In the summer, an application was submitted to extend the existing KWG license. That means new revenue pots will soon emerge.
For the current fiscal year, the management board forecast an increase in sales to around EUR 45 to 50 million and an increase in the operating result (EBITDA) to EUR 4 to 6 million. On December 7, the Berlin-based company will present itself at GBC's Munich investment conference "MKK". Perhaps the management will then elaborate on the growth plans for next year, which could pull the share out of its lethargy again. At around EUR 300 million, the stock is moderately valued.
flatexDEGIRO - Management expects strong growth
Europe's largest pan-European retail online broker most recently introduced commission-free trading from November 22, 2021. DEGIRO customers would now be able to trade over 5,000 US stocks directly on the leading US exchanges NASDAQ and NYSE across Europe without any commission. In addition, the offer applies to the French, Spanish, Portuguese and Italian markets.
Management expects this to accelerate customer and company growth. The shares have been trading roughly in the range of EUR 18 to 20 over the last 2 months. The CEO and CFO of the companies have recently been rebuying more of their shares. According to analyst consensus, the title is currently trading at a 2022 P/E of 15. Most experts recommend "buy" with a price target of EUR 33.60 - an upside potential of over 70%.
Commerzbank - New annual high marked briefly
While business at wallstreet:online and flatexDEGIRO is humming, Commerzbank is making every effort to get back on the road to success. Central to this are the massive cost savings associated with the "Strategy 2024" strategy. Most recently, the MDAX-listed Group announced a significant step. Negotiations with the General Works Council to cut thousands of jobs had been successfully concluded, the Frankfurt-based Company announced most recently. "Now we can continue to drive forward the transformation swiftly and at full speed," commented Group CEO Manfred Knof.
By year-end 2024, 10,000 of the most recent 39,500 full-time positions will be eliminated worldwide, but 2,500 posts will also be created. The bank is trying to carry out this reduction in a socially responsible manner. The branch network in Germany is to be reduced from 790 to 450 by the end of 2022. The share has reacted to the news with a new high for the year of just over EUR 7. However, the mark could only be held for a short time. Most analysts rate the Commerzbank share as a hold with a target price of around EUR 7.
The upward trend in the stock markets continues. Investor trading activity also remains high. Thus, the shares of wallstreet:online and flatexDEGIRO should benefit. The analysts at GBC believe that wallstreet:online has an upside potential of over 80%. Commerzbank is also an exciting turnaround stock for 2022.
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