Hypoport stock recovers after release of final quarterly figures

8/13/2024, 6:03 PM

After the release of the final quarterly figures, the Hypoport share was able to gain significantly, following a prior downward adjustment of the annual targets.

Eulerpool News Aug 13, 2024, 6:03 PM

After the release of the final quarterly figures, the stock of financial service provider Hypoport saw a significant recovery on Monday. At one point, the price rose by 9.5 percent, reaching a peak of 271.20 euros. However, it could not surpass the 100-day moving average line of 274.42 euros, an indicator for the medium-term trend. By the end of the XETRA trading day, the gain was still at 6.97 percent, and the price stood at 264.40 euros.

The market's reaction to the final figures shows some relaxation after the bar had been significantly lowered following the disappointing preliminary results. The stock price had plummeted by up to 35 percent after the first-quarter figures, greatly dampening expectations for the company's annual targets. However, the now-confirmed annual targets by Hypoport have calmed the market and supported the price increase.

Three weeks ago, Hypoport shares suffered a drastic 22 percent decline due to not raising annual targets, leading to a new low since April. Analyst Simon Keller from Hauck Aufhäuser Investment Banking pointed out the high valuation of Hypoport shares in this context. With a price-to-earnings ratio of 32 based on profit estimates for 2026, the stock was at the level of other high-quality and high-growth stocks such as Nemetschek SE, ATOSS Software, or RATIONAL.

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