Clavister: Strong growth and intensified investments
Research Update
2018-09-03
07:30
Clavister's report for the second quarter was strong on revenues but high opex, driven by extensive recruitment, burdened the quarter. Following the report, we raise our estimates for the Enterprise segment but cut our estimates for the Communication Service Provider segment. Our sales revisions (that burdens gross margins) and higher opex assumptions motivates a lower valuation.
HH
VW
Havan Hanna
Viktor Westman
Disclosures and disclaimers