TP ICAP MIDCAP analyst Michele Mombelli maintained a Buy rating on WIIT SpA on October 20 and set a price target of €24.10.
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Michele Mombelli has given his Buy rating due to a combination of factors highlighting WIIT SpA’s strategic positioning in the cloud computing sector. The recent AWS outage underscored the importance of localized cloud solutions, which WIIT provides with its European-based data centers. This localization not only ensures compliance with European regulations but also enhances data security and control, offering a significant competitive advantage over US-based providers.
Mombelli recognizes that in an environment where cloud service disruptions can severely impact business operations, WIIT’s focus on private and hybrid cloud services tailored for European enterprises meets the increasing demand for digital sovereignty. This strategic approach aligns with the growing market need for secure and compliant cloud solutions, justifying the Buy recommendation with a target price of €24.1 per share.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of 9PC in relation to earlier this year.