Berenberg cuts Kooth stock price target to GBP2.60 on currency impact

Published 23/09/2025, 11:16
Berenberg cuts Kooth stock price target to GBP2.60 on currency impact

Investing.com - Berenberg has lowered its price target on Kooth (LON:KOO) to GBP2.60 from GBP3.00 while maintaining a Buy rating on the digital mental health platform.

The adjustment follows Kooth’s H1 2025 results release, which indicated that full-year revenues and adjusted EBITDA would align with current consensus expectations on a constant currency basis.

On a reported basis, however, Kooth expects its FY25 revenue to be 23% below the current consensus expectation of £66.8 million, while adjusted EBITDA is projected to be 68% below the consensus expectation of £10.2 million.

The company anticipates significant margin improvement in the second half of 2025 as it reduces its marketing investment, according to Berenberg’s analysis.

Kooth reported that user registrations in California have surpassed 130,000, and the company plans to expand its service offering as part of an evolution of its existing strategy to drive more sustainable growth.

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