Forte dynamique de croissance confirmée - ACHAT, OC 14€
Si le CA 2016 est inférieur de 4% à la guidance, il est en ligne avec notre attente et la dynamique de croissance par activité est également conforme, nous permettant de confirmer nos estimations 2016-20e, ainsi que notre objectif de 14€. Au regard du parcours du titre depuis sa 1ère cotation (-26%) et de la sous-évaluation face à l’univers des éditeurs de logiciels small caps français, nous réitérons notre conviction à l’ACHAT pour une valeur au business model eLA QUALITÉ EXCEPTIONNELLE MÉRITE ENCOREMIEUXssentiellement SaaS procurant revenus récurrents et croissance embarquée.Horizontal Software SAS is a France-based company primarily engaged in the provision of enterprise software. The Company focuses on developing and commercializing a horizontal software platform that enables complete human resources (HR) management. The platform is distributed in software as a service (SaaS) mode and cloud architecture, as well as application mode. Its options includes e-recruitment, interviews analysis, employees data administration, browsing candidates profiles, analysis of custom HR factors, such as teams activity, absences and trainings, processing of payroll, validation of medical documentation, time management, as well as planning and optimization of HR resources, among others.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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