AXWAY SOFTWARE - BUY vs. SELL | EUR17 vs. EUR16 (+24%) Q3 2018 sales above expectations, ambitions confirmed
AXWAY SOFTWARE - BUY vs. SELL | EUR17 vs. EUR16 (+24%)Q3 2018 sales above expectations, ambitions confirmed
Licence sales and subscriptions above expectations
Geographic performance still mixed
FY18 guidance reiterated and FY20 ambitions confirmed
We upgrade Axway to Buy from Sell; Fair Value upped to EUR17
Axway Software is an IT consulting and services company which is active in the Middleware market. Co. is active in the four sectors of the Middleware market which are: Managed File Transfer (MFT), Business to Business (B2B), Application Programming Interface (API), and Secure Gateways. Co. provides infrastructure software that is used to develop and secure the electronic information exchange networks (business interaction networks). These networks cover all interactions between internal entities and external entities. They also support exchanges between applications or between users and information systems. Co.'s platform is Synchrony™ covering all interaction media.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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