New York and Bilbao, Spain, February 13 – American analysis firm Litchfield Hills Research maintains a ‘Buy’ rating and a €10 price target for Virtualware (ENXTPA: MLVIR), according to a new equity research report published and distributed last friday.
The report, authored by analyst Theodore R. O’Neill reaffirmed its ´Buy’ recommendation, highlighting the company’s pioneering role in virtual reality and immersive technologies for business applications.
It emphasizes that “the increasing adoption of user immersion technology in industries, such as education, industrial training, and healthcare, among others, is driving market growth. It is currently fueled by training for roles like engineers, pilots, and healthcare workers”.
The determination of the €10 price target is based on a discounted cash flow model, estimating the company’s potential future earnings. Virtualware’s valuation multiples are observed to be lower than those of comparable peers within the VR industry, suggesting a promising investment opportunity.
Virtualware commenced trading on the Euronext Access Paris exchange in April 2023 under the ticker MLVIR, boasting a market capitalization of €32.76 million and a share price of €7.20.
Headquartered in Bilbao, Spain, the company is a global pioneer in developing virtual reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments.
In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company and since April 2023 the company is listed on the Euronext Access Paris stock exchange.
Virtualware’s flagship product, VIROO, is redefining the realm of enterprise VR, driving its adoption forward, leveraging innovative and sustainable strategies. Recognized for its pioneering approach in the immersive technology sector, VIROO is rapidly becoming the global benchmark for the development and deployment of multi-user VR applications in industry and education.
The VR as a service platform is already used by over 40 companies and institutions worldwide including GE Vernova, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador, Conalep and EAN University.
Theodore O’Neill, the CEO of Litchfield Hills Research, is a two-time winner of the Wall Street Journal All-Star Analyst.
Litchfield Hills Research is an independent global equity research firm providing institutional investor quality research for companies looking to increase awareness with investors. Its reports are distributed on 24 platforms used by institutional investors in the US, EU, and China.
For more information on Virtualware’s investor relations, investors can visit: https://ir.virtualwareco.com/reports/
This document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies. Any decision to buy or invest in securities in relation to a specific issue must be made solely and exclusively on the basis of the information set out in the pertinent prospectus filed by the company in relation to such specific issue. No one who becomes aware of the information contained in this report should regard it as definitive, because it is subject to changes and modifications.
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