January 17th, 2022 | 13:42 CET
wallstreet:online, TeamViewer, Microsoft - These values will continue to inspire in 2022!
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Born in Munich, he first studied economics and graduated in business administration at the Ludwig-Maximilians-University in 1995. As he was involved with the stock market at a very early stage, he now has more than 30 years of experience in the capital markets.
TeamViewer - Rebound with first figures for 2021
It could be the final turnaround. TeamViewer's stock plummeted to EUR 10.75 by mid-December. Barely a month later, the share has ended 2021, which was marked by several profit warnings on a slightly positive note. Thanks to major cost savings in the final quarter, the struggling software provider earned slightly more operationally than recently forecast. That excited the TeamViewer investment community.
Last week, preliminary numbers were reported: For the full year 2021, TeamViewer is reporting billings of around EUR 548 million, which equates to 20% YOY growth and exactly matches its most recent forecast, which was revised twice. EBITDA is expected to be between EUR 254 million and EUR 257 million, corresponding to a margin of around 47% and thus even exceeds expectations. TeamViewer AG plans to present full fiscal 2021 results and a capital allocation update on February 2, 2022. This is going to be really exciting.
In 2023, TeamViewer's billings are expected to rise to more than EUR 1 billion. According to an earlier forecast, beyond 2023, TeamViewer is targeting growth of at least 25% per year. The badly battered stock reached weekly highs of around EUR 13.75 but fell back to EUR 12.30 by Friday. Some brokers nevertheless gave positive votes, such as Barclays with a price target of EUR 20. We can also imagine a rebound to EUR 16-18, which could mean a premium of up to 50% from today's perspective. The prerequisite is a positive report and outlook for 2022. Cautiously collect a few pieces!
wallstreet:online - Publishing and brokerage business combined
The digitalized world also includes the new brokers and trading platforms, which attract today's investors with ever-lower prices and service offers. The combination of relevant information with a powerful online broker seems particularly interesting. This combination has now been realized. As wallstreet:online (W:O) reported in January, it founded the subsidiary wallstreet:online Publishing GmbH and at the same time strengthened itself with the ex-Börsenmedien AG manager Thomas Eidloth. The sails have been set for this new business division.
As a result, several full-time editorial positions will be advertised in the coming weeks. In addition, selected experts from the financial community are to be integrated even more strongly into the reporting in the future. wallstreet:online AG is thus leveraging its existing reach of more than 376 million page views per month and over 830,000 registered users to create additional value for its readers and further increase growth in the portal business. From 2023, wallstreet:online Publishing GmbH is expected to significantly strengthen the earnings power of wallstreet:online AG once again.
The old banking model as a link between an investment advisor and investor is becoming increasingly blurred. That is why wallstreet:online AG has been working on restructuring its business model for several years. Today, fast and content-rich information and sophisticated platforms are in demand. W:O has recognized this need and now manages customer assets of over EUR 8 billion in its new Smartbroker business segment. Self-created investment ideas can thus be transformed into a trade at a low cost with just a few clicks. The fan community is still waiting for a conductive app, which should be on the market as early as mid-2022.
The W:O share had a positive stock market year in 2021, with performance exceeding 18.7% at year-end. However, with a current market capitalization of EUR 301 million, the valuation is still far below Trade Republic's last financing round. Therefore, the GBC experts' target price of EUR 37.70 should be considered when buying the stock. If the value of the W:O share brightens up, it is likely to move quickly in the direction of EUR 30 to 40.
Microsoft - Among the top 5 most expensive stocks
With a 66% price increase in 2021 and a market capitalization of USD 2.33 trillion, Microsoft shares are among the world's top 5 companies. The operating and office systems world leader is more in demand than ever in pandemic times. The number of all installed computer systems increased by 11.5% worldwide between 2019 and 2021, which significantly exceeded the GDP growth of the United States. There was a considerable increase in used device combinations with Windows/office systems in training facilities, home offices, and administrative units. Computer systems reduce face-to-face contact yet create a workable climate through real-time conversations.
Even the Swiss Army launched a pilot project with Microsoft Teams at the beginning of the year. It recently banned messengers such as WhatsApp, Signal, Telegram and Co. for official communication for security reasons. Now it wants to use the new tool to improve collaboration among officers. The pilot project will run until May and should then provide initial empirical values. Presumably, highly sensitive data is in better hands at Microsoft than platforms of open communications services that do not take data protection so seriously.
Microsoft's operating figures read like an instruction book for a profit machine. Revenue will reach about USD 196.5 billion in 2022, with an operating margin of 42%. The bottom line remains a profit of USD 71.7 billion that's the consensus at S&P. With estimated earnings per share of USD 9.51 in 2022, the software giant has a 12-month P/E of 32.5. Because of the sharply higher share price, the dividend yield melted down to less than 1%. But that does not make any investor poorer because of the strong performance. If the NDX continues to rise in 2022, Microsoft should be back in the game in a big way.
During the pandemic, investors have done quite well with so-called digitization stocks across the board. Still, these stocks carry risks once some calm returns on the Corona front. Microsoft remains omnipotent in the long term, while TeamViewer must prove itself again after a 75% share price loss. wallstreet:online AG is well on its way to becoming an integrated broker and publisher, the perfect ring closure for the active investor.
Conflict of interest
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