Skiapp has fallen 60 percent since listing – brokerage houses downgrade the share

Skitude aims to revolutionize the skiing experiences through an app that, among other things, will make it possible to buy lift passes, accommodation and other things in connection with skiing around the world. Users should also be able to share their experiences and get real-time information about weather, driving and trails at the ski resorts.

For the time being, success on the stock exchange is limited and Pareto Securities has not only downgraded the estimates for Skitude considerably – they also see increased risk associated with the company and are now calling for news.

It emerges from an analysis from the company published on Monday, of which Pareto downgrades the price target on Skitude to NOK 4 per share, from the previous NOK 11 per share, and downgrades to holdings from previous purchases.

“Although Skitude comments that they are planning to reach the 2025 target of 80 million euros in turnover, the market is not satisfied – and we agree,” the brokerage writes.

Pareto notes that since the company went public, very little news, information and guidance has been reported. At the same time, the segment for mergers and acquisitions seems to be losing momentum, despite the fact that the company is a consolidation case.

“Despite the fact that the ski industry has had headaches recently, the lack of news entails more risk in both the short and medium term,” writes Pareto.
At the same time, the brokerage house notes that they like the investment case in the long term, and believe in a digitalisation of the ski industry.
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