Fortnox Q3’20 review: 2021 EBIT forecast raised by 13% due to lowered OPEX estimates
Research Note
2020-10-23
07:20
Redeye remains positive following a predominantly solid Q3 with solid cost control, robust customer intake, and slightly weaker ARPC than we expected. We have increased our EBIT forecasts for 2021 and the long-term – mainly as we lower our OPEX forecasts – and raise our Base case.
FN
Fredrik Nilsson
Disclosures and disclaimers