Goldman keeps EUR 4.00 target for Nexi stock despite cash flow strength

Published on 10/09/2026 at 13:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 1.00 percent year over year, with EUR 400.00 million in excess cash. Nexi stock costs EUR 4.26 on October 9, 2026 after EUR 4.12.

Key points in brief

Goldman Sachs reiterated a Neutral rating and a EUR 4.00 target for Nexi on October 1, 2026.
Nexi reported first-half 2026 revenue growth of 1.00 percent and EUR 400.00 million in excess cash.
Nexi stock was trading at EUR 4.26 at Lang & Schwarz on October 9, 2026, up 3.40 percent from EUR 4.12.
Moody's raised Nexi's rating from Ba1 to Baa3 on September 30, 2026, while keeping a stable outlook.

Schwarzweiß-Reportagefoto einer kontaktlosen Kartenzahlung im kleinen Geschäft — Dokumentarische Schwarzweiß-Aufnahme einer kontaktlosen Kartenzahlung symbolisiert den täglichen Geschäftsalltag von Nexi S.p.A., ISIN IT0005366767, Illustration mit AI erstellt.

Nexi (IT0005366767) had a EUR 4.00 12-month price target and a Neutral rating reiterated by Goldman Sachs on October 1, 2026. The stock was trading at EUR 4.26 at Lang & Schwarz on October 9, 2026 at 1:02 p.m. CEST, up 3.40 percent versus the prior close of EUR 4.12.

Three milestones reshape the story

On July 29, 2026, Nexi reported first-half revenue above EUR 1.70 billion, up 1.00 percent year over year, while EBITDA reached EUR 870.00 million. Yahoo Finance also reported EUR 400.00 million of excess cash in the first half and Nexi's reaffirmed EUR 750.00 million target for 2026.

On September 30, 2026, Moody's lifted Nexi's long-term issuer and senior unsecured ratings from Ba1 to Baa3, moving the company into investment grade. Boerse Express said the outlook changed from positive to stable and that net debt to EBITDA stood at 2.70 times at the end of the first half.

On October 1, 2026, Goldman Sachs kept its Neutral rating and EUR 4.00 target, citing constrained near-term revenue visibility. Finvaulta listed a 1.10 percent forecast for third-quarter 2026 revenue growth against a 1.80 percent consensus estimate.

What does the rating change mean?

The credit upgrade improves Nexi's financing profile, but the operating picture is less decisive. In the first half of 2026, EBITDA margin was 50.10 percent versus 50.60 percent in the prior-year period, according to the results-call transcript.

Goldman Sachs also lowered its reported earnings-per-share estimate for fiscal 2026 to EUR 0.34 from EUR 0.35, while Nexi's cash target remains EUR 750.00 million. The combination leaves debt reduction and revenue acceleration as the two measurable tests for the next report.

Next report arrives November 5

Nexi's investor-relations calendar lists the 9M26 results presentation and conference call for November 5, 2026. Nexi also reports fiscal-year 2025 revenue of EUR 3.583 billion, EBITDA of EUR 1.901 billion and an EBITDA margin of 53.10 percent.

At EUR 4.26, the Lang & Schwarz price stood 15.14 percent below the 52-week high of EUR 5.02 on October 9, 2026. Nexi is listed on Borsa Italiana and operates in payment processing and software infrastructure, with a market capitalization of EUR 5.0 billion as of October 9, 2026. The further course of trading is shown by the continuously updated real-time quote of Nexi stock.