Bucking the trend in Paris, Esker gained almost 2% after announcing sales for the second quarter of 2024 up 14% to €51.5 million, at the top end of its annual target range (+12-14% excluding acquisitions and currency effects).

Over the past quarter, SaaS (Software-as-a-Service) sales rose by 13% to represent 82% of the Group's business, with subscription sales up 32% to account for 53% of SaaS sales.

While management has maintained its annual revenue growth forecast, Stifel believes that the momentum confirms its view that the software group should be able to do better, and has raised its target to 15% in the second half of the year.

'Esker is not totally immune to the political crisis in France, but its solid publication shows once again that it remains one of the best growth and quality stocks among French SMEs', according to the broker, who remains at 'buy' on the stock.

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