Lime Technologies (Hold, TP: SEK340.00) - Softer Expert Services market
The Q1 sales were a bit soft, but compared to our forecast this appears fully related to Expert Services (subscription revenues overall solid). We have trimmed our net sales and EBITDA estimates by c2% for 2024–2025. We reiterate our HOLD and have reduced our target price to SEK340 (345).Lime Technologies AB (publ) is a Sweden-based information technology (IT) company and software developer. The Company develops, sells and implements customer relationship management (CRM) systems. The Company offers Software as a Service (SaaS) subscriptions and provides consultancy in the implementation and customization of its software products. The Company's products include Lime Go, a cloud-based sales management system that contains a database with contact details of all Swedish, Danish and Norwegian businesses, and Lime CRM, an integrated system with industry-specific solutions. The Company conducts its activities on the Nordic market and maintains offices in Sweden, Norway, Denmark and Finland.
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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