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Gofore: Hikes growth target and reshapes strategy - SEB

Gofore just announced new financial targets and a new strategic plan for 2023-24. The company hiked its organic growth target to 15% (previously 10%) while other financial targets are reiterated. Our read is that the new growth target provides better visibility for 2023E. Estimating next's year growth has been challenging due to the expected economic downturn and very rapid current growth pace. We model 11% growth for 2023E.

Gofore just announced new financial targets and a new strategic plan for 2023-24. The company hiked its organic growth target to 15% (previously 10%) while other financial targets are reiterated. Our read is that the new growth target provides better visibility for 2023E. Estimating next's year growth has been challenging due to the expected economic downturn and very rapid current growth pace. We model 11% growth for 2023E.
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