NEW YORK and MADRID, Spain, July 12, 2023 (GLOBE NEWSWIRE) -- Lleida.net (LLEIF.US) is pleased to announce that Litchfield Hills Research LLC, a leading American equity research firm, has reaffirmed its Buy rating and $9 price target for the company.
The firm's preliminary 1Q22 results, recently released, reflect a revenue of €4.7 million and an EPS loss of €0.02. Despite these results being slightly short of Litchfield Hills Research's expectation due to higher operating expenses and unfavorable exchange rates, the company's valuation from the analyst remains unchanged.
"It's clear that Litchfield Hills Research's assessment recognizes the inherent value and potential of Lleida.net. We're not here to just meet expectations, but to exceed them. As we continue to drive innovation and expand our services globally, we believe that the market will continue to validate our strategy and our performance," said Sisco Sapena, who founded the company in 1995.
Following the announcement of these results, Litchfield Hills Research has adjusted its 2023 estimates for Lleidanetworks. The firm, run by Theodore R. O'Neill, is now expecting a revenue of €21.5 million and an EPS of €0.00, slightly down from their previous forecast of €21.8 million and €0.01, respectively.
Nevertheless, it is important to underline that in May 2023, Lleida.net reached an important milestone. It issued its 100 millionth certified e-mail using its proprietary method. This signifies a decade of consistent, exponential growth and increased market penetration. The trajectory from 1 million certified emails in 2016, 10 million in 2018, 25 million in 2021, and 50 million in 2022 illustrates the rapid growth and adoption of the multinational company's services.
The company, founded in 1995 and listed on Euronext Growth in Paris, BME Growth in Madrid and OTCQX in New York, has obtained recognition in 300 patents worldwide in more than 60 countries.
It has already obtained worldwide patent recognition in more than 60 countries.
Lleida.net's growth strategy includes a solid growth policy in intellectual property and R&D, as well as a reinforcement of its internationalization strategy.
The company also recently announced the launch of its USVC product, the first universal validator of electronic signatures.
The company's recorded record sales in 2022.
For further information, please visit https://investors.lleida.net/en
To download analysts' coverage, please visit https://investors.lleida.net/en/analyst-reports
This press release contains statements regarding the future of Lleidanet Servers TelematicsS.A. and its innovations. Statements regarding the future may be accompanied by words such as "anticipate," "believe," "estimate," "wait," "pretend," "power," "plan," "potential," the use of future time and other terms of similar meaning. You don't need to put any undue reliance on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company's commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise.
