Verisec Underlying KPIs signal traction
Freja eID is showing early platform success, and its decision to disclose the number of users (68k, with an additional backlog of 95k) is a positive signal to us. That said, until it proves that the eID platform can accelerate top-line growth, the stock should continue to lag. Having cut our 2020–2022 sales forecasts by 6%, we have arrived at a fair value of SEK50–100 (60–110).Verisec AB is a Sweden-based company which provides security solutions for banking, government and business customers.
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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