Verve Group SE Faces Short-Term Challenges Amid Platform Unification

First Berlin Equity Research has updated its research on Verve Group SE, maintaining a 'BUY' rating but lowering the target price from €5.80 to €4.80. This adjustment follows the company's Q2 performance, which, while better than the previous year, fell short of expectations from earlier quarters. These results were influenced by management's initiative to unify platform operations, consolidating all in-app marketplace activities into a single technology stack. Although the integration was completed on schedule, subsequent issues with fully restoring the Supply Side Platform affected early Q3 revenues. Additionally, adverse currency fluctuations contributed to the lowered guidance, now anticipating sales between €485 million and €515 million, and AEBITDA between €125 million and €140 million, down from previous estimates. Despite these setbacks, analysts view the situation as a temporary hurdle, not a structural issue, reinforcing confidence with a revised target price.