Home > Blog > Research > Research Report: RS2 Software plc
“We are initiating our coverage on RS2 Software plc (“RS2” or the “Group”) with a Buy recommendation and 12-month price target of €2.22. RS2 is currently in a pivotal transition stage, in the process of on-boarding large clients within the managed services business and adding new markets to its existing customer portfolio, with a special focus on the US operation.
As at H1 2019, the Group has successfully secured new contracts and opened up new verticals and regions within EMEA, LATAM and APAC concerning managed services and also generated revenue for the first time from the US operation. RS2 is currently trading at 90.9x earnings (FY 2018). Based on our 2020 projected earnings and current price, the forward P/E ratio stands at 48.2x. International peers are currently trading at the following P/E levels: Adyen: 92.6x and Wirecard: 33.1x. We are of the view that the Group’s share price of €2.00 has the potential to trade at higher levels, once the Group’s pro

Disclaimer

The information provided on this website is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Similarly, any views or opinions expressed on this website are not intended and should not be construed as being investment, tax or legal advice or recommendations. Investment advice should always be based on the particular circumstances of the person to whom it is directed, which circumstances have not been taken into consideration by the persons expressing the views or opinions appearing on this website. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views, or opinions appearing on this website. You should always take professional investment advice in connection with, or independently research and verify, any information that you find or views or opinions which you read on our website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. CC does not accept liability for losses suffered by persons as a result of information, views, or opinions appearing on this website.

Calamatta Cuschieri Investment Services Ltd is licensed to conduct investment services business under the Investments Services Act by the MFSA and is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act.