AlphaValue Corporate Services Fundamental Analysis FR
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AlphaValue Corporate Services
This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II

Swissquote Group Holding

CR
Bloomberg   SQN SW
Internet banking/Fintech  /  Switzerland  Web Site   |   Investors Relation
Exporting high quality financial technology...
Pros
  • Swissquote is well positioned to leverage its high quality multi asset class trading platform at an international level and remain a market leader in its domestic market
  • As a Fintech, the company has managed to remain up to date, enabling to trade ever more assets (cryptocurrencies of late) and offering new financial solutions (i.e. multi-currency credit cards)
  • Swissquote’s strong balance sheet (a high CET1 ratio and no debt) gives it appreciated flexibility in terms of acquisition or organic growth (R&D remains key to the company’s DNA)
Cons
  • Swissquote’s top-line remains strongly correlated to the health of the financial markets (low level of recurring revenues)
  • Competition has pressured trading fees in recent years at a time when central banks’ low/negative rates have put pressure on net interest income
Target
Upside 37.1%
Price (CHF) 77.4
Market Cap (CHFM) 1,187
Perf. 1W: 3.06%
Perf. 1M: -5.26%
Perf. 3M: -1.15%
Perf Ytd: 62.1%
10 day relative perf. to stoxx600: 4.72%
20 day relative perf. to stoxx600: -5.57%