First Berlin Equity Research has published a research update on Verve Group SE (ISIN: SE0018538068). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 6.00 price target.

Abstract
Verve accelerated its digital advertising journey in 2021 and has built a formidable software platform to capitalise on adland growth trends in programmatic and AI-driven solutions. The company now differentiates itself from its rivals with a suite of applications that dovetail with emerging privacy-first requirements helping the it win market share in a growth sector. Q1 reporting has the company on track to expand sales some 22% this year (FBe), and Verve brass are aiming for a €1bn topline around 2028 / 2029. We thus think Verve is in the midst of a growth phase that is still underappreciated by the markets. We are Buy-rated on Verve with a €6 TP (upside: 130%).