Average Target Price – R$ 2,99
| Consensus | 2026E | 2027E |
|---|---|---|
| Media – Average | R$ 31,357 | R$ 32,895 |
| Gross margin (%) | 30,9% | 30,3% |
| Adjusted EBITDA (R$ million) | R$ 2,873 | R$ 3,164 |
| Financial result (R$ million) | -R$ 3,383 | -R$ 2,725 |
| Net income (R$ million) | -R$ 1.194 | -R$ 779 |
TARGET PRICE (Sell) – R$ 1,00
| BofA Merrill Lynch projections | 2026E | 2027E |
|---|---|---|
| Net sales(R$ million) | R$ 30,217 | R$ 30,068 |
| Gross margin (%) | – | – |
| Adjusted EBITDA (R$ million) | – | 2,713 |
| Financial result (R$ million) | – | – |
| Net income (R$ million) | -R$ 969 | -R$ 675 |
TARGET PRICE (Neutral) – R$ 9.00
| Bradesco projections | 2026E | 2027E |
|---|---|---|
| Net sales (R$ million) | R$ 32,209 | – |
| Gross margin (%) | – | – |
| Adjusted EBITDA (R$ million) | R$ 3,207 | – |
| Financial result (R$ million) | – | – |
| Net income (R$ million) | R$ 44 | – |
TARGET PRICE (Neutral) – R$ 3.00
| BTG Pactual projections | 2026E | 2027E |
|---|---|---|
| Net sales(R$ million) | R$ 30,108 | – |
| Gross margin (%) | 32.1% | – |
| Adjusted EBITDA (R$ million) | R$ 2,859 | – |
| Financial result (R$ million) | – | – |
| Net income (R$ million) | – R$ 154 | – |
TARGET PRICE (Under Review) – R$ n/a
| Itaú BBA projections | 2026E | 2027E |
|---|---|---|
| Net sales(R$ million) | R$ 30,963 | R$ 32,555 |
| Gross margin (%) | 30,1% | 28,7% |
| Adjusted EBITDA (R$ million) | R$ 2,656 | R$ 2,953 |
| Financial result (R$ million) | -R$ 3,504 | -R$ 2,993 |
| Net income (R$ million) | -R$ 2,229 | -R$ 1.248 |
TARGET PRICE (Sell) - - R$1.25
| Morgan Stanley projections | 2026E | 2027E |
|---|---|---|
| Net sales(R$ million) | R$ 31,134 | R$ 32,838 |
| Gross margin (%) | 30,0% | 31,0% |
| Adjusted EBITDA (R$ million) | R$ 2,662 | R$ 2,806 |
| Financial result (R$ million) | -R$ 3,261 | -R$ 2,457 |
| Net income (R$ million) | -R$ 1,718 | -R$ 639 |
TARGET PRICE (Sell) – R$ 3.00
| Safra projections | 2026E | 2027E |
|---|---|---|
| Net sales (R$ million) | R$ 31.530 | R$ 33,272 |
| Gross margin (%) | 31.3% | 31.3% |
| Adjusted EBITDA (R$ million) | R$ 2,893 | R$ 4.143 |
| Financial result (R$ million) | – | – |
| Net income (R$ million) | -R$ 2.259 | -R$ 1.325 |
TARGET PRICE (Neutral) – R$ 3.70
| Santander projections | 2026E | 2027E |
|---|---|---|
| Net sales(R$ million) | R$ 32,426 | R$ 34,287 |
| Gross margin (%) | – | – |
| Adjusted EBITDA (R$ million) | R$ 3,035 | R$ 3,343 |
| Financial result (R$ million) | – | – |
| Net income (R$ million) | – R$ 1,436 | – R$ 701 |
TARGET PRICE (Neutral) – R$ 3.80
| XP | 2026E | 2027E |
|---|---|---|
| Net sales(R$ million) | R$ 32,269 | R$ 34,348 |
| Gross margin (%) | – | – |
| Adjusted EBITDA (R$ million) | R$ 2,838 | R$ 3,023 |
| Financial result (R$ million) | – | – |
| Net income (R$ million) | -R$ 835 | -R$ 86 |