Nemetschek SE

NEM: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€64.00	Jznclv	Slhljplwfm

Nemetschek Earnings: In Line With Expectations; Shared Overvalued

Rob Hales

Apr 30, 2024

Narrow-moat Nemetschek reported first-quarter results that were in line with FactSet consensus and our expectations. Shares are trading roughly flat intraday. We don’t expect to make a material change to our EUR 61 fair value estimate. At current levels, the shares look overvalued.

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