The half-yearly results for Technogym S.p.A. (BIT:TGYM) were released last week, making it a good time to revisit its performance. It was a credible result overall, with revenues of €493m and statutory earnings per share of €0.58 both in line with analyst estimates, showing that Technogym is executing in line with expectations. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
Taking into account the latest results, the most recent consensus for Technogym from ten analysts is for revenues of €1.10b in 2026. If met, it would imply a reasonable 4.2% increase on its revenue over the past 12 months. Per-share earnings are expected to rise 4.7% to €0.61. Before this earnings report, the analysts had been forecasting revenues of €1.10b and earnings per share (EPS) of €0.62 in 2026. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
See our latest analysis for Technogym
It will come as no surprise then, to learn that the consensus price target is largely unchanged at €17.99. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Technogym, with the most bullish analyst valuing it at €24.50 and the most bearish at €15.00 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Technogym's past performance and to peers in the same industry. We would highlight that Technogym's revenue growth is expected to slow, with the forecast 8.6% annualised growth rate until the end of 2026 being well below the historical 12% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 5.1% annually. So it's pretty clear that, while Technogym's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Technogym analysts - going out to 2028, and you can see them free on our platform here.
Even so, be aware that Technogym is showing 1 warning sign in our investment analysis , you should know about...
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