- Zacks
TEMENOS GROUP (TMNSF) Upgraded to Strong Buy: Here's Why
TEMENOS GROUP (TMNSF) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
- Reuters
Temenos sees slower earnings growth in 2024
Temenos on Monday forecast slower growth in 2024 earnings before interest and taxes (EBIT) compared to last year when its results beat expectations on solid deal execution. The outlook came as shares in the Swiss software firm began recovering from losses that wiped out nearly one-third of its stock market value last week after a report by Hindenburg Research alleging accounting irregularities. Temenos had swiftly refuted the report, saying it contained factual inaccuracies and analytical errors, as well as false and misleading allegations that were "intended to adversely impact the company's share price".
- Reuters
Temenos shares extend slide after Hindenburg allegations
Shares in Temenos fell more than 9% on Friday, a day after a Hindenburg Research report alleging accounting irregularities wiped off more than a quarter of the Swiss financial software company's value. Temenos said its board of directors rejected the report published by Hindenburg and that it was confident in the strength of its business, performance and cash position. Still, one activist shareholder, Petrus Advisers, said the Hindenburg report showed it was time for CEO Andreas Andreades to step down, noting it had previously sought his removal.
