Trustpilot Group (TRST)

Sector:

IT Services

Index:

FTSE 250

198.00p
   
  • Change Today:
      5.30p
  • 52 Week High: 208.00
  • 52 Week Low: 63.15
  • Currency: UK Pounds
  • Shares Issued: 413.24m
  • Volume: 436,421
  • Market Cap: £818.22m

Berenberg lowers target price on Trustpilot

By Iain Gilbert

Date: Tuesday 21 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg lowered their target price on review website operator Trustpilot from 180.0p to 160.0p on Tuesday but said it still expects to see positive underlying earnings and cash flow in 2023.

Berenberg said Trutpilot's 2022 bookings and revenue figures were in line with expectations, while adjusted underlying earnings came in approximately 50% ahead of its expectations as the company delivered positive EBITDA and free cash flow in the second half.

The German bank also highlighted that the group was expected to be EBITDA-positive in 2023, a year earlier than previously anticipated, on the back of higher operating leverage, and more prudent sales and marketing spend given "difficult macro conditions".

"We think reducing sales and marketing dollars in current market conditions is the right strategy as businesses will naturally be more reluctant to pay for any new subscriptions. This means lower-than-expected top-line growth in FY23 but higher profitability," said Berenberg, which stood by its 'buy' rating on the stock.

"As mentioned in our previous reports, we continue to think that Trustpilot has significant growth opportunities in the future and the risk-reward balance at the current valuation of c1.8x EV/sales is compelling."









Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TRST Market Data

Currency UK Pounds
Share Price 198.00p
Change Today 5.30p
% Change 2.75 %
52 Week High 208.00
52 Week Low 63.15
Volume 436,421
Shares Issued 413.24m
Market Cap £818.22m

TRST Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.07% below the market average86.07% below the market average86.07% below the market average86.07% below the market average86.07% below the market average
69.05% below the sector average69.05% below the sector average69.05% below the sector average69.05% below the sector average69.05% below the sector average
Price Trend
97.03% above the market average97.03% above the market average97.03% above the market average97.03% above the market average97.03% above the market average
93.62% above the sector average93.62% above the sector average93.62% above the sector average93.62% above the sector average93.62% above the sector average
Income Not Available
Growth
50.78% above the market average50.78% above the market average50.78% above the market average50.78% above the market average50.78% above the market average
47.73% above the sector average47.73% above the sector average47.73% above the sector average47.73% above the sector average47.73% above the sector average

TRST Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:23 444 @ 198.00p
15:23 983 @ 198.00p
15:23 1,020 @ 198.00p
15:23 2,037 @ 198.00p
15:23 99 @ 198.00p

TRST Key Personnel

CFO Hanno Damm
Chair Zillah Byng-Thorne

Top of Page