Carasent (Buy, TP: NOK32.00) - Patients needed
Carasent reported slower organic recurring revenue growth in Q1 (13% YOY versus 15% in Q4), driven by weaker growth for Webdoc EHR. The slower growth was attributed to a catch-up in price adjustments from lower post-pandemic clinic activity. While we view this headwind as transitory, we have reduced our organic growth estimates as we expect tough comparables to continue into 2023. Thus, we reiterate our BUY but have cut our target price to NOK32 (35).Apptix is a provider of hosted business communication, collaboration, and infrastructure solutions to businesses of all sizes. Co.'s portfolio of Cloud solutions includes Microsoft® Exchange, SharePoint®, and Lync®, as well as hosted VoIP, encryption, archiving, and mobile device management. Co.'s hosted services are delivered across a network infrastructure and built upon hardware and software housed in Tier IV, SSAE 16 SOC 1 Type II certified, geographically dispersed interconnected data centers.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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