In the chart over the course of the allegations of manipulation of Financial Times have left their traces. An Update with Overview.
In the spring of 2019 fell to the Wirecard paper as a result of the first reports in the Financial Times (FT) around the balance sheet irregularities at the intermediate low of 86 euros. After that, it went uphill again and the share price could at 140 to 150 Euro, broke the stock in mid-October, 2019, once again serious. For the umpteenth time, the British financial newspaper, accused the DAX companies, ticket bookings and illegal practices. The downturn in the stock market dragged on for the DAX companies until the end of last year. In the meantime, the share was at is 103.95 euros on 11. December 2019. Wirecard 127,35 EUR -6,35 (-4,75%) Xetra
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directed To the price data
The accusations in the first place against the Wirecard subsidiary companies abroad. Wirecard CEO Markus Braun dismissed all allegations. It later turned out in the case of an internal investigation that there had been in Singapore, but inconsistencies – however, according to the company, in the order of magnitude, as the FT claimed.
The company therefore brought proceedings before the court against the newspaper. Wirecard accuses the newspaper of “illegal publications, manipulative influence on the capital market to the detriment of Wirecard AG and its shareholders,” writes the Handelsblatt. The financial Supervisory authority, BaFin, and the Munich public Prosecutor’s office to determine in this country in this direction, but not against Wirecard. You to go instead with the suspicion that the company could be the victim of a targeted attack by stock market speculators.
court date canceled
Wirecard commissioned the auditing firm KPMG, with a special examination of their own balance sheets in order to create allegations of accounting fraud from the world. “KPMG is focused mainly on the operations that are repeatedly criticized in the press, including in Singapore and Dubai. By the end of March, you want to be ready. From the fact that we still have not made any Ad-hoc message, you can draw your conclusions“, – quotes Wirecard the new Chairman of the Supervisory Board Thomas Eichelmann on their own site. The former chief inspector Wulf Matthias has been criticised because of its dealing with the press affair, and in January resigned.
in the Meantime, has cancelled the regional court of Munich I in January 2020, the scheduled trial date. This did not happen in consequence of a request by Wirecard, “because up to the date of the hearing to inspect the file of the parallel ongoing state attorney investigation against employees of the Financial Times and other individuals was possible,” – said in a Statement, the Wirecard representing the law firm Bub, Memminger & partners from 18. February 2020.
Unimpressed by the months-long On-and-off the company from Aschheim near Munich, has expanded its business in the past year, with the settlement of cashless payment again. Sales climbed, according to preliminary calculations by 38 percent to 2.8 billion euros. Today, the stock is in the Chart at 136,90 Euro (Stand: 21.02.2020 at 13:46).
the view
For this year, Wirecard chief brown is aiming for an operating profit of 1.00 to 1.12 billion euros. By 2025, the company plans to come thanks to the ongoing proliferation of cashless payment methods, with a turnover of 12 billion euros. This would be measured by the year 2019, more than a fourfold increase. Wirecard in Asia, in China and Japan, wants to grow RND and dpa reported.
Now all eyes are on the upcoming Highlights at Wirecard. With voltage, the traders expect the results of the investigation of KPMG and the annual figures for the year 2019, which, according to Wirecard at the 8. April 2020 to be announced to be.
What analysts say
The experts are to be voted, the shares to neutral to positive. The Swiss Bank UBS ranks Wirecard “Neutral” and leaves the price target at 136 Euro (Stand: 14. February 2020). JPMorgan has been the company Wirecard after Figures on “Neutral” with a target price of 165 Euro classified. Both the turnover of the payment processor as well as the operating result EBITDA would have exceeded expectations, writes Analyst Sandeep Deshpande in one study, (Stand: 14. February 2020). Analysts from Goldman Sachs and the DZ Bank left their classification on “Buy”. The latter lifts the fair value for Wirecard to 168 Euro.
author: Nicolas Ebert
This article was written by wallstreet:online editor
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