Market Projections

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Average Target Price - R$ 4.91

Consensus 2024E 2025E
Net sales (R$ million) R$ 27,174 R$ 28,791
Gross margin (%) 30.9% 31.2%
Adjusted EBITDA (R$ million) R$ 1,817 R$ 2,326
Financial result (R$ million) -R$ 1,367 -R$ 1,198
Net income (R$ million) -R$ 871 -R$ 912

 

TARGET PRICE (Sell) - R$ 6.70

Banco do Brasil projections 2024E  2025E 
Net sales (R$ million) R$ 26,977 R$ 28,147
Gross margin (%) 30.7% 29.8%
Adjusted EBITDA (R$ million) R$ 1,983 R$ 2,210
Financial result (R$ million) R$ (1,743) R$ (1,934)
Net income (R$ million) R$ (625) R$ (613)

 

TARGET PRICE (Sell) - R$ 3.25

BofA Merrill Lynch projections 2024E 2025E
Net sales(R$ million) R$ 26,714 R$ 28,133
Gross margin (%)
Adjusted EBITDA (R$ million)
Financial result (R$ million)
Net income (R$ million) -R$ 936 -R$ 1,266

 

TARGET PRICE (Neutral) - R$ 9.00

Bradesco projections 2024E 2025E
Net sales (R$ million) R$ 28,697 R$ 30,512
Gross margin (%)
Adjusted EBITDA (R$ million) R$ 2,058 R$ 3,008
Financial result (R$ million)
Net income (R$ million) -R$ 1.086 R$ 0

TARGET PRICE (Neutral) - R$ 3.00

BTG Pactual projections 2024E 2025E 
Net sales(R$ million) R$ 27,031 R$ 28,637
Gross margin (%) 30.8% 31.6%
Adjusted EBITDA (R$ million) R$ 1,939 R$ 2,561
Financial result (R$ million)
Net income (R$ million) R$ (689) R$ (754)

 

TARGET PRICE (Sell) - R$ 4.00

Genial projections 2024E 2025E
Net sales(R$ million) R$ 28,156 R$ 29,715
Gross margin (%) 30.40% 31.10%
Adjusted EBITDA (R$ million) R$ 2,114 R$ 2,692
Financial result (R$ million) -R$ 2,510 -R$ 2,326
Net income (R$ million) -R$ 1,274 -R$ 602

TARGET PRICE (Sell) - R$ 2.90

Goldman Sachs projections 2024E 2025E
Net sales (R$ million) R$ 26,827 R$ 28,285
Gross margin (%)
Adjusted EBITDA (R$ million) R$ 1,722 R$ 2,318
Financial result (R$ million)
Net income (R$ million) -R$ 847 -R$ 1,393

TARGET PRICE (Sell) - -

Morgan Stanley projections 2024E 2025E 
Net sales(R$ million) R$ 26.822 R$ 28.788
Gross margin (%) 30.9% 31.4%
Adjusted EBITDA (R$ million) R$ 1,919 R$ 2,418
Financial result (R$ million) R$ (1,945) R$ (2,928)
Net income (R$ million) R$ (857) R$ (1.164)

TARGET PRICE (Sell) - R$ 3.20

Safra projections 2024E 2025E 
Net sales (R$ million) R$ 26,935 R$ 28,886
Gross margin (%) 31.4% 31.5%
Adjusted EBITDA (R$ million) R$ 2,385 R$ 2,970
Financial result (R$ million)
Net income (R$ million) -R$ 861 -R$ 905

TARGET PRICE (Neutral) - R$ 3.90

Santander projections 2024E 2025E 
Net sales(R$ million) R$ 27,072 R$ 28,674
Gross margin (%) 30.9% 31.5%
Adjusted EBITDA (R$ million) R$ 1,928 R$ 2,552
Financial result (R$ million) -R$ 2,004< -R$ 0
Net income (R$ million) -R$ 813 -R$ 1,020

TARGET PRICE (Neutral) - R$ 8.00

XP projections 2024E 2025E
Net sales(R$ million) R$ 31.377
Gross margin (%) 29.70%
Adjusted EBITDA (R$ million) R$ 2.066
Financial result (R$ million)
Net income (R$ million) -R$ 1.051 -/td>