DGAP-News: CLIQ Digital AG: QUIRIN Privatbank Equity Research raises the price target to EUR 16.00 after increased company outlook for 2020 and confirms 'BUY' recommendation

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CLIQ Digital AG: QUIRIN Privatbank Equity Research raises the price target to EUR 16.00 after increased company outlook for 2020 and confirms "BUY" recommendation

Dusseldorf, 9 July 2020 - The analysts of QUIRIN Privatbank Equity Research have recently published a new research update on the CLIQ Digital share (ISIN DE000A0HHJR3, GSIN A0HHJR), a leading digital lifestyle company, providing consumers worldwide with streaming entertainment services.

After the considerably increased outlook for the current financial year, communicated by the Company's Management on 6 July 2020, QUIRIN decided to raise its price target from EUR 10.00 up to EUR 16.00. Consequently, the analysts' recommendation has remained "BUY". Based on the new outlook for this year, CLIQ Digital estimates gross revenues of approximately EUR 90 million, which means a growth rate of more than 40% compared to the financial year 2019, and an EBITDA of at least EUR 10 million, corresponding to approximately 75% more than the 2019 financial year.

CLIQ Digital expects a stronger increase in its gross revenue and EBITDA for the year due to the high levels of marketing spend during the first six months of this financial year. During the second quarter, the Company was also able to maintain its important KPI CLIQ Factor (a key indicator for measuring the profitability of new customers) above 1.58, the number indicated in its previous outlook for this financial year 2020.

The analysts of QUIRIN stated that the strong improvements of CLIQ are caused by the Company's successful media buying strategy, combined with attractive content offerings. Furthermore, a major source of growth lies in the expected increasing marketing spend from its former outlook (EUR 26 million) to approximately EUR 30 million, which should pave the way for further growth even after full year 2020.

You can find the current commentary by QUIRIN Privatbank Equity Research on the CLIQ Digital AG website under the following link:

https://cliqdigital.com/blog/front-IR/analysts/

About CLIQ Digital:
CLIQ Digital (www.cliqdigital.com) is a leading digital lifestyle company, providing consumers worldwide with streaming entertainment services. Members get unlimited access to music, audiobooks, games, sports and movie content. The core business of the Group is the online direct marketing of its streaming entertainment services to consumers globally. In 2019 CLIQ Digital realized over 90% of its sales in Europe and North America. CLIQ Digital's headquarter is based in Dusseldorf and has offices in Amsterdam, London, Paris, Barcelona and Tequesta, Florida. The Group, employs approximately 100 staff and is listed in the Scale (30) segment at the Frankfurt Stock Exchange (ISIN DE000A0HHJR3).

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