Worldline: stock stumbles after big technical hitch
(CercleFinance.com) - Down 3%, Worldline shares were by far the biggest loser on the CAC 40 index on Monday, following a power cut that severely disrupted its customers' business over the weekend.
By noon on Saturday, a computer breakdown had affected credit card payments at several major chains, including Carrefour, Monoprix, Auchan and Ikea, as well as McDonald's and the SNCF.
According to analysts, these disruptions - due to difficulties encountered by Worldline within one of its payment platforms - were quickly resolved, and the situation was back to normal by Sunday.
The group added that it was not a cyber attack.
While the financial impact may seem minimal, this outage is bad publicity for Worldline, at a time when the stock has suffered a violent derating over the last 18 to 24 months, say analysts at Invest Securities.
Since its all-time peak of E83 in July 2021, the share has lost almost ¾ (over 72%) of its value.
In a sector report this morning, Deutsche Bank said that it had reduced its target price for the stock from E55 to E42, due to the deterioration of consumption in Europe and continued high costs with inflation.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
By noon on Saturday, a computer breakdown had affected credit card payments at several major chains, including Carrefour, Monoprix, Auchan and Ikea, as well as McDonald's and the SNCF.
According to analysts, these disruptions - due to difficulties encountered by Worldline within one of its payment platforms - were quickly resolved, and the situation was back to normal by Sunday.
The group added that it was not a cyber attack.
While the financial impact may seem minimal, this outage is bad publicity for Worldline, at a time when the stock has suffered a violent derating over the last 18 to 24 months, say analysts at Invest Securities.
Since its all-time peak of E83 in July 2021, the share has lost almost ¾ (over 72%) of its value.
In a sector report this morning, Deutsche Bank said that it had reduced its target price for the stock from E55 to E42, due to the deterioration of consumption in Europe and continued high costs with inflation.
Copyright (c) 2023 CercleFinance.com. All rights reserved.