TeamViewer Stock: Shares Surge on Strong Revenue Beat

TeamViewer's stock witnessed a remarkable upturn on Wednesday, soaring more than 13 percent to reach €10.87 on the XETRA exchange, marking a significant recovery from December's sub-€9 lows. The software company's preliminary 2024 figures exceeded market expectations, with billings reaching approximately €700 million, substantially surpassing analyst projections of €668 million. This impressive performance was primarily driven by substantial enterprise contract closures during the year's final quarter, while total revenue climbed to €671 million, up from €626.7 million in the previous year.

Financial Outlook

The remote access software provider maintains an optimistic stance for its continued growth trajectory, reaffirming its adjusted EBITDA margin forecast of at least 44 percent. The company is scheduled to release comprehensive fourth-quarter and full-year 2024 results on February 12, with market analysts setting an average price target of €14.86 for the stock, suggesting potential further upside from current levels.