FRANKFURT (dpa-AFX) - Unexpectedly good quarterly figures boosted the shares of software provider Teamviewer on Wednesday. They climbed in the morning to their highest level since March 2022 and were last in first place in the MDax with a gain of 5.4 percent and a price of 13.70 euros. The index of mid-cap stocks gained 1.3 percent.

Teamviewer met its financial targets for the year thanks to a good performance in the final quarter. The company's fourth-quarter billed revenue and operating profit were better than expected, wrote analyst Toby Ogg of U.S. bank JPMorgan. However, CFO Michael Wilkens had promised additional investment in research and development, this poses a risk to margin targets this year, the analyst said. Teamviewer will announce its final figures, including margin guidance, on February 7.

However, investors were not deterred by a possible threat to margins on Wednesday. The shares continued their good run. After a price consolidation towards the end of last year, the gain in the still young stock market year 2023 currently amounts to almost 14 percent. Since their record low of 7.668 euros at the beginning of October 2022, the shares have now risen by around 79 percent. The figures presented by Teamviewer were strong and should underpin the upward trend of the shares, a trader said, expressing confidence in the further development of the share price.

However, Teamviewer shares are still a long way from their best level of almost 55 euros in the summer of 2020. At that time, Teamviewer, with its business model focused on remote computer maintenance, was one of the pandemic winners from the trend toward home offices. However, share sales by major shareholders and expensive marketing contracts then put the shares under pressure./ajx/la/mis