Atte has released a new company report on Lemonsoft 
We reiterate our Buy recommendation for Lemonsoft with a target price of EUR 6.5. The company’s Q1 results exceeded our expectations, and we have revised our forecasts slightly upwards. The completion of the technology platform transition and the brightening market outlook for industrial customers create a solid foundation for improving earnings growth in the coming years. In view of this, the stock’s current valuation (2026e EV/EBIT 10x) is, in our opinion, very attractive.
Quotes from the report:
In 2027-2028, we forecast Lemonsoft’s organic growth to pick up to the 5% level and the adjusted EBIT margin to improve to 29-30%. We expect growth to come especially from SaaS revenues and transactions, while consulting is expected to continue a gentle decline. Lemonsoft will very likely accelerate its growth in the coming years through new acquisitions, which the company is actively scouting.