Why Deutsche Bank thinks Trustpilot shares could more than double from here11 Mar 2026 14:50
Deutsche Bank has highlighted Trustpilot Group PLC (LSE:TRST), the online reviews platform, as a key pick ahead of its full-year results on 17 March, with a price target of 354p that implies more than 100% upside from the current share price of 161p.
The German bank said a strong pre-close trading update in January had reinforced its conviction, with Trustpilot reporting full-year revenue of $261 million, ahead of Deutsche Bank's own forecast of $253 million.
More encouragingly for the growth outlook, bookings, which are a forward-looking indicator of future revenue, grew at 18% in constant currency terms for the full year, accelerating from 17% in the first half and beating the bank's expectations.
All three of Trustpilot's geographic regions improved, with North America the standout, posting 21% bookings growth, followed by Europe and the rest of the world at 20% and the UK at 16%.
Management also confirmed that the strong revenue performance translated into earnings before interest, tax, depreciation and amortisation ahead of market expectations, suggesting the company is converting its top-line momentum into profit more effectively than analysts had anticipated.
Deutsche Bank said the bookings acceleration bodes well for 2026 revenue growth.
https://uk.finance.yahoo.com/news/why-deutsche-bank-thinks-trustpilot-124506646.html