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Investing.com - Needham initiated coverage on NIQ Global Intelligence Plc (NYSE:NIQ) with a Buy rating and a $24.00 price target on Monday, representing a potential 34% upside from the current price of $17.94.
NIQ Global Intelligence, a carve-out from Nielsen Holdings (NYSE:NLSN), operates as a global consumer insights platform focusing on fast-moving consumer goods and tech and durables verticals. The company generates annual revenue of $4 billion with a gross profit margin of 56%, according to InvestingPro data.
Needham highlighted that NIQ’s business health has "improved substantially" since the company exited the public spotlight in 2021, with organic growth reaching mid-single digit pace and margins expanding by over 800 basis points since the carve-out.
While the firm noted that cash flow conversion has lagged, it sees "line of sight to substantial improvement" and believes this issue is "more than priced in" with shares trading at an enterprise value to fiscal year 2026 EBITDA multiple of 8.8x.
Needham’s $24 price target is based on an enterprise value to fiscal year 2026 EBITDA multiple of 10.5x.
In other recent news, NIQ Global Intelligence has garnered significant attention from multiple investment firms, with several initiating coverage on its stock. Barclays (LON:BARC), Wells Fargo (NYSE:WFC), and JPMorgan have each given NIQ an Overweight rating, with price targets set at $24.00 and $21.00, respectively. Barclays projects a revenue growth of 5.0-5.5% and an adjusted EBITDA growth of approximately 11% for NIQ over the next three-plus years. Meanwhile, BMO Capital and Stifel have both initiated coverage with an Outperform and Buy rating, respectively, each setting a price target of $24.00. These firms highlight NIQ’s strong business model, which includes over 80% recurring revenue and unique data assets. NIQ, which was spun out from Nielsen Holdings in 2021, is recognized for its comprehensive consumer measurement data and analytics services. The company operates globally, serving a substantial portion of the Fortune 100 companies. These developments reflect a strong confidence in NIQ’s market position and future growth potential.
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