First Berlin Reiterates Buy Rating for Beaconsmind AG

First Berlin Equity Research has reiterated its "Buy" recommendation for Beaconsmind AG, following the release of the company's financial results for H1 2024. Analyst Christian Orquera has raised the target price from €14.00 to €14.50, citing strong financial performance.

Beaconsmind AG reported revenues of CHF5.9 million, closely aligning with the forecasted CHF6.1 million. The adjusted EBITDA stood at CHF1.1 million. These figures accounted for €550,000 in one-off costs related to mergers, acquisitions, restructuring, and strategy changes.

The positive results suggest that Beaconsmind is on track to achieve a positive EBITDA, net income, and free cash flow in 2024, in accordance with its financial guidance. New client contracts bolster confidence in management's ability to meet 2024 targets.