TeamViewer shares drop 10% as Q3 billings misses analyst estimates By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2024
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Source: Investing.com
TeamViewer's Q3 Performance: TeamViewer's shares fell 10% after reporting a 4% year-on-year increase in billings, which was below analyst expectations, particularly due to a decline in the small and medium-sized business segment. However, revenue growth met expectations at 8%, and the Enterprise segment saw a significant 32% increase in billings.
Revised Guidance and Cash Flow: The company narrowed its full-year 2024 revenue guidance slightly lower and increased its adjusted EBITDA margin forecast. Despite a drop in free cash flow conversion to 51%, TeamViewer maintained its overall free cash flow growth guidance of 8%, with analysts viewing the shares as attractively valued.
Analyst Views on TMV
Wall Street analysts forecast TMV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TMV is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 36.690
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Current: 36.690
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
