Metzler starts coverage of Ionos stock with EUR 28.50 Sell target

Published on 10/06/2026 at 17:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ionos stock costs EUR 32.58 on October 6, 2026 versus EUR 32.60. The price is 8.69 percent below its EUR 35.68 high.

Ionos, DE000A3E00M1, Illustration mit AI erstellt.

Metzler began coverage of Ionos with a Sell rating and a EUR 28.50 price target on September 30, 2026, according to FinanzNachrichten. Analyst Veysel Taze argued that Ionos remains primarily a traditional web hoster even as management promotes cloud and artificial intelligence growth.

Metzler challenges the AI premium

The rating sets a clear valuation hurdle. Metzler's EUR 28.50 target is EUR 4.08 below the substitute Xetra price of EUR 32.58, a gap of 12.52 percent based on the October 6, 2026 quotation. The assessment contrasts with Ionos management's effort to position cloud and artificial intelligence as larger growth engines.

The debate matters because the company combines a subscription-heavy web presence business with cloud services. Its valuation therefore depends on whether newer cloud and artificial intelligence products can lift growth beyond the established hosting base.

Revenue rises in first half

Quartr reported that Ionos generated EUR 701.1 million in revenue in the first half of 2026, up 6.9 percent year over year. Adjusted EBITDA reached EUR 245.2 million, up 3.5 percent, with a 35.0 percent margin.

Customer growth supplied a second operating signal. Ionos added 280,000 net new customers in the first half of 2026, reaching 6.91 million, while second-quarter revenue rose 8.1 percent year over year to EUR 352.7 million. The figures show continued expansion, but adjusted EBITDA growth was slower than revenue growth.

Xetra price stays below yearly high

The substitute Xetra price was EUR 32.58 on October 6, 2026 at 9:10 a.m. CEST, down EUR 0.02, or 0.06 percent, versus the prior Xetra close of EUR 32.60 on October 5, 2026. Ionos had a market capitalization of EUR 4.5 billion and a 52-week range of EUR 20.90 to EUR 35.68 as of October 6, 2026. Price source: substitute price Xetra, Lang & Schwarz without data set.