UBS starts ATOSS Software at 'neutral' on balanced risk-reward

By Reuters News

** UBS initiates German workforce management software provider ATOSS Software AOFG.DE at "neutral" with a €100 ($114.82) PT, saying its risk-reward profile looks more balanced

** Broker says its performance in Germany is "not the drag the macro headlines imply", as it is boosted by cloud migration, fiscal benefits, market share gains and an expanding total addressable market

** "We see ATOSS as relatively defensible in the near term" said the broker, citing labour regulation, works councils and fragmented compliance requirements

** UBS forecasts for group sales a 13% compound annual growth rate (CAGR) from 2025-2030

** Brokerage sees FY26 sales of €212 million, slightly below consensus and near the lower end of the group's guidance, while also calling "unlikely" its 2030 sales target of €400 million

** Out of 9 analysts that cover the stock, seven rate the stock "buy" and ​two maintain a "hold" rating - LSEG data






($1 = 0.8712 euros)

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