Redeye: Lowered base case in Paynova

Paynova’s Q2 revenue and EBIT were close to our projections. We find it positive that Paynova has chosen to expand its product suite by including invoice purchases. This will likely increase revenues in the near future.

Slower than expected progress with the health care client, the lack of larger announced customers and a tightened competition from among others Qliro Financial Services has lowered our estimated growth and EBIT-margins. Our new fair value range is SEK 0.36-2.80. Continue reading at: https://goo.gl/Vsdzmi

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This is a press release from Redeye - Research Powered Investment Banking. https://www.redeye.se