Enlight Research raises target share price for INVL Technology to EUR 5.11

The independent investment research firm Enlight Research has updated its valuation of INVL Technology, a company that invests in information technology businesses, following the announcement of the company's H1 2026 results.

Taking into account the group's strong financial growth and operating results, Enlight Research has increased its target share price for INVL Technology to EUR 5.11 (previously EUR 5.05). Under an optimistic scenario, the share value is EUR 6.08, while a conservative scenario puts it at EUR 4.15.

In its updated analysis, Enlight Research indicates that the Q2 revenue of INVL Technology's portfolio companies reached EUR 17.2 million, which was 35% higher than forecast. The analyst calculates that the weighted P/S (price-to-sales) multiple of the managed companies is 1.0.

INVL Technology's equity and net asset value (NAV) at the end of the first half-year stood at EUR 66.1 million, which is EUR 5.52 per share. Both indicators have increased by approximately 2% since the beginning of the year. The company earned an unaudited net profit of EUR 1.51 million in the first half of the year, a 97% increase from the EUR 0.766 million profit in the same period last year.

INVL Technology owns the cybersecurity company NRD Cyber Security, the GovTech group NRD Companies, and the IT services company Novian. INVL Technology, which is managed by INVL Asset Management, a leading Baltic alternative asset manager, is a closed-end investment company. Its investments must be realised by mid-July 2028 at the latest and the funds paid out to shareholders.

The company is in discussion with potential investors, a process which is being mediated by the new mergers and acquisitions (M&A) advisor ICON Corporate Finance, selected at the start of the year.

Enlight Research produces independent company analysis reports, providing high-quality investment information.

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail [email protected]

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• Enlight Research_ INVL Technology