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Investing.com - Deutsche Bank raised its price target on Trustpilot Group PLC (LON:TRST) to GBP3.43 from GBP3.31 on Wednesday, while maintaining a Buy rating following the company’s strong financial performance.
The company reported bookings and revenue growth of 17% and 21% in constant currency terms, respectively, consistent with its pre-close announcement in mid-July, resulting in total revenue of $122.8 million for the period.
Trustpilot’s adjusted EBITDA performance exceeded Deutsche Bank’s expectations, with a margin of 14.6% generating $18 million in adjusted EBITDA, ahead of the bank’s estimate of $16 million.
The company’s adjusted diluted earnings per share reached approximately $0.022, surpassing Deutsche Bank’s forecast of $0.019 per share.
Trustpilot maintained a solid financial position with $67 million in cash on its balance sheet, which aligned with figures provided in its pre-close statement.
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