DataWalk: returning like a phoenix from the ashes (HOLD)
We update our rating on DataWalk to a HOLD (previously Under Review), and set our new price target (PT) at PLN 116.0/share. Since the beginning of 2024, DataWalk has managed to secure some large contracts (Barclays, Morgan Stanley, Amazon and Rabobank) and a long-term strategic partner (the Raise fund), which should support the company in the event of liquidity needs. These achievements have been discounted by the market already – DataWalk’s share price is up 84% in the LTM. Our valuation methods (based on the current and historical EV/sales multiples) do not leave much room for further price appreciation, unless we increase our sales growth outlook materially from the already high 56% 2024-27E CAGR. Given DataWalk’s track record, we would like it to deliver some further milestones, before we lift our results expectations.Datawalk SA Formerly known as Pilab SA. Datawalk SA, formerly known as Pilab SA, is a Poland-based a software publisher. The Company specializes in the area of data analysis, offering Business Intelligence solutions. It operates DataWalk, an agile analysis platform, which enables financial and insurance institutions to discover fraud attempts, combat money laundering, as well as analyze and monitor business processes, such as sales, claim adjustment and debt collection, among other applications. The Company operates through Datawalk Inc, its wholly-owned subsidiary based in the United States.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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