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Gofore: Just keeps delivering - SEB

Gofore’s Q4 marked a quarter where the company proved that the business has scale effects when things are done right. We hike our margin expectations as we believe the company can offset salary inflation with recruitments. Uncertainty remains elevated, but monthly sales reports keep topping our estimates. We hike our fair value range for Gofore to EUR 28-31 (previously EUR 25-28).

Gofore’s Q4 marked a quarter where the company proved that the business has scale effects when things are done right. We hike our margin expectations as we believe the company can offset salary inflation with recruitments. Uncertainty remains elevated, but monthly sales reports keep topping our estimates. We hike our fair value range for Gofore to EUR 28-31 (previously EUR 25-28).
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