Axway Software's share price rose sharply on the Paris Bourse on Friday, following an upward revision of its annual targets for the 2022 financial year.

At 11:45 am, the infrastructure software developer's share price, which had jumped by more than 18% at the start of the session, was still up 15.8%, making it one of the strongest performers on the Paris market.

Last night, Axway indicated that its previously announced annual targets would be exceeded due to a "historically high" level of activity at the end of the year.

In the 4th quarter, contract signatures and renewals for its subscription offering generated some 50 million euros in immediate sales.

As a result, Axway now forecasts organic sales growth of between 4.5% and 5.5% in 2022, compared with 1% to 3% previously.

Operating profit should represent between 14% and 15% of sales, compared with 12% to 14% previously.

For 2023, the API management specialist says it aims to maintain positive organic sales growth of between 0% and 3%, and to achieve an operating margin in the range of 15% to 18%.

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