Kahoot (Buy, TP: NOK83.00) - Focus on Q4
We expect Kahoot to reiterate its USD39m Q4 billings guidance and potentially narrow its 2021 guidance range towards the low end, which should be widely expected. We have raised our Q4e billings to USD38m. While slightly below Q4 point guidance, we believe this would put Kahoot on track to reach its 2022 targets. We have only tweaked our estimates and we reiterate our BUY, but we have trimmed our target price to SEK83 (85).
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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