Report
Cedric Rossi ...
  • Clement Genelot
  • Gregory Ramirez

CLARANOVA: Q3 2022 sales momentum still negatively impacted by PlanetArt | BUY | EUR9.5 vs. EUR10.5

CLARANOVA - BUY | EUR9.5 vs. EUR10.5
Q3 2022 sales momentum still negatively impacted by PlanetArt

PlanetArt: sales down 21% LfL to EUR64m due to Apple’s ATT and a demanding comparison base
Avanquest: slightly below our estimate amidst of less easy comps
MyDevices: very strong ARR growth bodes well for coming few quarters
Underlying
Claranova SE

Avanquest Software and its subsidiaries are engaged in manufacturing and distributing of communication software. Co. markets its communication software through Original Equipment Manufacturer (OEM) agreements signed with international modem, computer and cellular phone vendors. Co. also sells its communication software "in shops" through a network of Resellers and, currently, on its Web sites. In addition to the software, Co. provides customers with the software medium (floppy disks or CD-ROM), and an electronics User Guide and online help, included with the product. Co.'s Customer Service department can also provide clients with technical assistance for its products.

Provider
Bryan Garnier
Bryan Garnier

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.

Analysts
Cedric Rossi

Clement Genelot

Gregory Ramirez

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