Shares of PensionBee, a UK-based digital pension provider, are expected to more than double in the year, according to some analysts. Bank of America said the fast-growing fintech company “achieved financial and strategic success” last year after announcing its latest quarterly results last month. As a result, the Wall Street bank expects the stock to rise 216% to £2.17 ($2.63) over the next 12 months. The positive outlook would be a reversal for the fast-growing company’s shares, which have fallen 60% in 2022 amid a wider sell-off in the UK’s small and mid-cap equity markets. The price of this share is at 0.70 Euro. However, the stock pared some of those losses and is up 26% this year on a bullish outlook from analysts, as the company is set to turn a profit in the next financial year. “To achieve this after the demanding market conditions in 2022 is proof of the company’s business,” BoA analyst led by Philip Middleton said in a note to clients on January 23. underestimated.” PBEE-GB 1Y line Bank is not the only positive outlook on PensionBee. The consensus price target of five analysts covering the company gives the stock 146% upside potential. Berenberg said that PensionBee’s high brand recognition in the UK means the company can reduce marketing costs in the future front, which will help with profits. The German investment bank expects the stock to rise more than 143% in the next 12 months to £1.70. “We expect marketing costs to fall compared to [financial year] 2022 level,” said equity analyst Alexander Bowers. “This reduction is expected to be driven by better company brand recognition (more than 50% of people now recognize the brand name, based on consumer survey data).” Founded in 2014, PensionBee now has £ 3 billion assets under administration among 183,000 customers. In comparison, competitor Hargreaves Lansdown manages £39 billion in assets on its own managed pension platform, the largest in the UK PensionBee targets growth – taking 2% of £700 billion. UK pension market – in the long term now it seems more possible, according to Bank of America, because of the company’s performance in 2022. more. If it was able to prosper in the cold climate last year, it is enough to assume, we think, it will prosper in the future,” he added.