Oberursel, 22 March 2022: OTRS AG (ISIN: DE000A0S9R37) receives an analyst vote. The research house Montega AG has published its initial study with a price target of EUR 24.00 and a buy recommendation for the share. From now on, Montega analyst Sebastian Weidhüner will accompany the further development of OTRS AG (OTRS) with continuous assessments.
In his first study on OTRS, the analyst emphasises the strong growth potential of the company. “In our opinion, the transformation to a solution provider with recurring revenues of > 90% is only insufficiently reflected in the share price. OTRS historically has a broad user base that has not yet been monetised.” The Analyst also comments: “In our view, the still largely unknown equity story of OTRS offers an attractive buying opportunity for the share, especially in view of a change in strategy to be implemented in 2020.”
OTRS had discontinued professional support for the open source variant of the service management suite, which is often used by support staff and call centre agents. Since then, the strategic focus has been on the business suite, which can be purchased as part of one-year contracts. In 2020, the share of recurring revenue was already 91.2%.
In Sebastian Weidhüner’s opinion, the current valuation does not sufficiently reflect the prospects of OTRS, which is why he includes the share in his coverage with a price target of EUR 24.00 and a “buy” rating.
The comprehensive research increases the transparency regarding the business model of OTRS AG as well as the attractiveness of the share.
The analyst report is available at: corporate.otrs.com
About OTRS AG
OTRS Group is the manufacturer and the world’s largest provider of the enterprise service management suite OTRS, awarded with the SERVIEW CERTIFIED TOOL seal of approval.
It offers companies industry-independent solutions for structured communication in customer service, IT service management and security management. In addition to the core product OTRS, the security solutions STORM and CONTROL ensure efficient cybersecurity incident management and transparent documentation in accordance with standards such as ISO 27001.
Among its customers are Lufthansa, Airbus, Porsche, BSI (Federal Office for Security in Information Technology), Max Planck Institute, Toyota and TUI Cruises. The company consists of OTRS AG and its five subsidiaries OTRS Inc. (USA), OTRS S.A. de C.V. (Mexico), OTRS Asia Pte. Ltd. (Singapore), OTRS do Brasil Soluções Ltda. (Brazil) and OTRS Magyarország Kft. (Hungary). OTRS AG is listed on the basic board of the Frankfurt Stock Exchange. For more information, see www.otrs.com.