Smartbroker Holding AG: Prospects for Growth Amidst Market Dynamics

GBC AG has released its research on Smartbroker Holding AG, assigning a 'BUY' recommendation with a target price of €17.50 by the end of 2026. Known for its hybrid business model combining online brokerage and digital financial media, Smartbroker operates prominent German financial portals, enhancing customer engagement and reducing acquisition costs through strong synergies.

Financially, the company showed notable growth in 2024, with revenue rising to €52.48 million. This trend continues in the first half of 2025 with revenues of €32.31 million. However, expanded marketing spend has resulted in negative short-term earnings, with an expectation of future profitability starting in 2027.

Smartbroker's strategic initiatives, such as expanding trader functions and personalized content, position it favorably in a competitive environment likely affected by regulatory changes. These efforts aim to strengthen its market position, potentially driving medium-term growth.