Nemetschek (NEM GR) Germany
Technology
Woozle downgrades the stock to Sell following their latest channel checks - respondents reported that NEM’s sales growth in Q2 was marginally behind estimates. In some instances, deal cycles have become more complex and prolonged due to the ongoing transition from perpetual licenses to a SaaS model. ArchiCAD, NEM’s flagship BIM offering, remained a healthy performer this quarter. Respondents generally provided cautious outlooks for the next 3-6 months, with expectations of slightly stronger performance in previously weak regions like Europe, as deal pipelines picked up slightly during the latter end of the quarter, particularly for products under its Design segment. However, a lot of this optimism is largely contingent on respondents expecting interest rate cuts.
Edition: 190
- 12 July, 2024