New Equity Research Report Recommends ‘Buy’ Rating for Virtualware (EPA:MLVIR) with €10 Price Target
New York and Bilbao, Spain, 10, October.- Litchfield Hills Research initiated coverage of Virtualware (ENXTPA: MLVIR) with a ‘Buy’ rating and €10 ($10.56) price target, according to an equity research report published and distributed Monday.
The report cites Virtualware’s position as a pioneer in virtual reality and immersive technologies for enterprise use as a basis for the ‘Buy’ recommendation.
Analyst Theodore R. O’Neill wrote that the global VR market is expected to reach $435 billion by 2030, presenting a significant growth opportunity for Virtualware. The company’s flagship VIROO platform offers VR-as-a-service for corporate training, design prototyping, marketing, and other applications.
The report states:
“Virtualware has a long lead as a pioneer in this sector with a significant amount of intellectual property built up over the last two decades”
Virtualware is a leading innovator in the virtual reality space, according to the report. The company has made significant advancements with its VIROO platform, which provides an end-to-end VR solution for enterprises.
VIROO enables remote collaboration and multi-user VR environments to facilitate training, design prototyping, and other applications across industries from aerospace to healthcare. It offers a flexible cloud-based system compatible with major VR headsets and customizable for each client’s needs.
Recent updates of the platform allow integration of virtual and mixed reality along with offline functionality. Virtualware continues to refine VIROO with the goal of establishing it as an industry standard VR-as-a-service platform.
The €10 price target is derived from a discounted cash flow model estimating the company’s future earnings potential. The report noted Virtualware’s current valuation multiples are below comparable peers in the VR space.
Virtualware began trading on the Euronext Access Paris exchange in April 2023 under the ticker MLVIR. The company currently has a market capitalization of €38.6 million and a share price of €8.50
As a pioneer with nearly 20 years focused on VR, Virtualware is poised for success as demand accelerates for immersive technologies improving productivity and capabilities across sectors.
Headquartered in Bilbao, Spain, Virtualware is a global pioneer in developing virtual reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments. In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company.
With a diverse client base that includes GE Hitachi Nuclear Energy, Ontario Power Generation, Petronas, Iberdrola, Alstom, Guardian Glass, Gestamp, Danone, Johnson & Johnson, Biogen, Bayer, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador and EAN University, and a network of partners worldwide, Virtualware is poised for further global expansion.
Investor Website and Contacts: https://ir.virtualwareco.com/reports/