Deutsche Bank cuts target for Temenos stock to CHF 68.00

Published on 10/05/2026 at 15:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Temenos reported 11.00 percent ARR growth in Q2 2026. Temenos stock costs EUR 71.65 on October 5, 2026 after EUR 71.20, plus 0.63 percent.

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Temenos stock (ISIN CH0012453913) was trading at EUR 71.65 at Lang & Schwarz on October 5, 2026 at 3:08 p.m. CEST, plus 0.63 percent versus the prior close of EUR 71.20. On October 3, 2026, Yahoo Finance reported that Deutsche Bank cut its Temenos target from CHF 77.00 to CHF 68.00 while keeping a Hold rating.

Deutsche Bank lowers the target

The target cut places Deutsche Bank at the cautious end of the recent CHF 68.00 to CHF 90.00 range described in the October 3 report. JPMorgan kept a CHF 90.00 target and an Overweight rating, while Barclays held a CHF 89.00 reference point, showing how widely analyst assumptions now differ.

The revision matters because it lowers the valuation hurdle while Temenos continues to report recurring-revenue growth. The company therefore faces a sharper test of execution when it reports its next quarter.

Recurring revenue keeps growing

In the second quarter of 2026, Temenos increased annual recurring revenue by 11.00 percent to CHF 881.0 million, according to the Q2 results transcript published by Yahoo Finance. Total revenue grew 1.00 percent in the quarter and 6.00 percent in the first half of 2026, while non-IFRS EBIT increased 4.00 percent in the quarter.

Non-IFRS EBIT margin improved by one percentage point to 41.30 percent in the second quarter of 2026. Free cash flow reached CHF 74.0 million, up 14.00 percent year over year, but subscription and SaaS revenue declined 13.00 percent in the quarter because several large deals shifted in timing.

Third-quarter results set for October

Temenos expects subscription and SaaS revenue to grow at least 30.00 percent year over year in the third quarter of 2026 and has reconfirmed its 2026 guidance. Its investor-relations calendar sets the Q3 2026 results for October 27, 2026, according to Temenos.

The key tension is visible in the numbers: recurring revenue and cash flow are expanding, while delayed subscription deals and a lower bank target keep execution at the center of the valuation debate.

EUR 71.65 quote and CHF 4.5 billion value

Temenos was trading at EUR 71.65 at Lang & Schwarz on October 5, 2026 at 3:08 p.m. CEST, plus 0.63 percent versus the prior close of EUR 71.20. On SIX, the primary listing is quoted in Swiss francs; market capitalization was CHF 4.5 billion and the 52-week range was CHF 59.20 to CHF 87.00 as of October 5, 2026.

The further course of trading is shown by the continuously updated real-time quote of Temenos stock.