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Investors award Trustpilot five-star rating on earnings upgrade
Evening Standard
|July 13, 2023
TRUSTPILOT shares got five-star treatment from City investors today after the consumer reviews platform nudged up its earnings guidance.
The stock jumped 19% or 12.8p to 80.9p, still way off its 2021 debut price of 265p when the Copenhagen-based firm was valued at more than £1 billion.
Concerns over investment costs and the weaker economic outlook recently pushed the shares to a record low, although the downbeat mood shifted today as a trading update revealed a 15% rise in first-half revenues.
The UK, which accounts for about 40% of business activity, achieved bookings growth of 15% as Trustpilot forecast underlying earnings above the top end of City estimates.
This story is from the July 13, 2023 edition of Evening Standard.
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