Temenos seen down after second guidance cut in a row
** Swiss banking software firm Temenos TEMN.S is seen down 1.8% in Julius Baer pre-market indications on Thursday after it lowered its full year guidance for the second quarter in a row on Wednesday after market close
** Temenos said sales execution issues in the Middle East and Africa (MEA) region led to a software licensing revenue slightly below a company compiled consensus
** It now expects software licensing sales to be "flattish" in 2024, in July having guided for a sales growth of 3% to 6%
** "While the company cited execution issues in MEA, we also
want to flag a noticeable total software licensing decline in Europe," Baader Helvea analysts write in a note
** JPM analysts say the market is likely holding out for the outcome of the new CEO's review and implications for the mid-term financial framework at Temenos' Capital Markets Day in November
** "We think investors are hoping for a significant cut to the current mid-term targets (consensus already builds in a significant cut)," JPM analysts write
Reporting by Marleen Kaesebier
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