Finwire 10 June - 08:24

Huddlestock: Profitable Consulting Services and High Growth Potential Within IaaS - Analyst Group

Huddlestock Fintech AS (“Huddlestock” or the “Company”) first quarter of 2024 demonstrated strong and solid profitability within consulting services, with an EBITDA margin of 26%. At the same time, Huddlestock possesses high growth potential within Investment-as-a-Service (“IaaS”) through a strong value proposition and expanded product offering, which has resulted in a solid pipeline of new prospects, expected to drive new deals and growth in the near future. This, combined with a stable outlook for the Professional Service division in 2024, justifies a high activity throughout the year 2024. Huddlestock is estimated to reach a revenue of NOK 116M in 2024, and based on an applied EV/S target multiple of 4.3x, a potential fair value of NOK 2.4 (2.4) per share is derived in a Base scenario.

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