FRANKFURT (dpa-AFX) – The shares of Software AG (Software) suffered on Friday before the market from a forecast reduction for an important division. On the Tradegate trading platform, the titles lost almost five percent to EUR 24.96 compared to the Xetra close. They are therefore threatening to continue their recent slide and slip to their lowest level since spring 2020. A downgrading of the US investment bank Morgan Stanley had already weighed on the previous day, now a downgrading of the investment bank Oddo BHF was added.
The MDAX group lowered its annual target for incoming orders in the digitization division. After the weaker than expected development in the second quarter, there are first signs that customers are delaying their decisions due to the changing economic environment. The other annual targets, however, were reaffirmed.
A stockbroker complained that the future division of the group was still behind schedule. Market acceptance is simply too low. Analyst Knut Woller from Baader Bank was surprised by the arguments for the surprising cut in the division forecast. Reports from other companies have so far indicated that software spending has performed well in the second quarter. It can therefore not be ruled out that internal reasons also played a role at Software AG./gl/jha/
Leverage must be between 2 and 20
No data