Litchfield Hills Research raises its buy recommendation for Virtualware to €12 per share

New York and Bilbao, Spain, 24 September. - American equity research firm Litchfield Hills Research has just released its newest analysis of Virtualware (ENXTPA: MLVIR), in which it raises its Buy recommendation from €10.00 to €12.00 per share.

The report, bylined by analyst Theodore R. O'Neill, reaffirms his "Buy" recommendation over the company, listed on Euronext Paris since April 2023, and highlights its positive performance during the last year.

Litchfield Hills highlights VIROO by Virtualware as a global benchmark for multi-user VR application development.

The €12.00 per share price target is based on a discounted earnings model, which projects the company's potential future earnings, and expects comprehensible grow in the next five years.

Litchfield Hills Research is an independent global equity research firm that provides quality research for institutional investors and companies seeking to increase their visibility with investors. Its reports are distributed on 24 platforms used by institutional investors in the US, EU, and China.

Theodore O'Neill, CEO of Litchfield Hills Research, is a two-time Wall Street Journal All-Star Analyst.

Virtualware's current market capitalization is over 38 million euros and a share price of 8.40 euros per share, from an initial IPO price of 6.00 euros.

Headquartered in Bilbao (Spain), the corporation delivers a professional and practical approach to Real-time 3D by providing companies and institutions with the tools and support they need to grow, strengthen, and advance in their adoption of this technology.

The company's diverse client base includes GE Vernova, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, the University of El Salvador, EAN University and the Basque Government.

Its VIROO platform is a ready-to-run XR solution that grants companies and institutions worldwide easy access to immersive technology. It covers the entire Product Lifecycle Management (PLM) cycle, from concept and design to development and launch, VIROO supports the entire business process.

The robust enterprise XR platform provides multiple ready-to-use applications for users, as well as tools for developers to create and distribute their own custom multi-user XR applications. VIROO ensures the highest levels of security and privacy, including ISO 270001 certification, scalability, and performance, integrating all XR needs into a single platform.

For more information on Virtualware's investor relations, investors can visit: https://ir.virtualwareco.com/reports/

Investors can download the report at this link

Safe Harbor

This document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies. Any decision to buy or invest in securities in relation to a specific issue must be made solely and exclusively on the basis of the information set out in the pertinent prospectus filed by the company in relation to such specific issue. No one who becomes aware of the information contained in this report should regard it as definitive, because it is subject to changes and modifications.

This document contains or may contain forward looking statements regarding intentions, expectations or projections of Virtualware 2007, S.A. (“Virtualware” or the “Company”) or of its management on the date thereof, that refer to or incorporate various assumptions and projections, including projections about the future earnings of the business. The statements contained herein are based on our current projections, but the actual results may be substantially modified in the future by various risks and other factors that may cause the results or final decisions to differ from such intentions, projections or estimates. These factors include, without limitation, (1) the market situation, macroeconomic factors, regulatory, political or government guidelines, (2) domestic and international stock market movements, exchange rates and interest rates, (3) competitive pressures, (4) technological changes, (5) alterations in the financial situation, creditworthiness or solvency of our customers, debtors or counterparts. These factors could cause or result in actual events differing from the information and intentions stated, projected or forecast in this document or in other past or future documents. Virtualware does not undertake to publicly revise the contents of this or any other document, either if the events are not as described herein, or if such events lead to changes in the information contained in this document. This disclaimer needs to be taken into account by those persons which may take a decision over the base of this document or to elaborate or disseminate opinions based hereof. This document may contain summarised information or information that has not been audited. This document is confidential and it cannot be revealed or disclosed to third parties different from the original recipients, even partially, without Virtualware’s prior consent.