Trustpilot Group's latest valuation update nudges fair value down from about £3.35 to roughly £3.06 per share, as analysts bake in slightly more cautious assumptions on growth and risk. Expectations for annual revenue growth have been trimmed only marginally, to around 16.3% from 16.8%, while the discount rate has inched up from approximately 8.21% to 8.55%, reflecting heightened macro and execution uncertainty. Stay tuned to discover how you can monitor these moving targets and keep ahead of the evolving narrative around Trustpilot's stock.

Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value Trustpilot Group.

???? Bullish Takeaways

RBC Capital has initiated coverage with an Outperform rating and a 290 GBp price target, signalling confidence that current valuation still offers upside relative to Trustpilot Group's perceived intrinsic value.

The firm highlights that Trustpilot has turned its first mover advantage into strong market positions across key regions, reinforcing the view that execution quality is a central driver of the longer term growth case.

RBC Capital points to the ongoing shift toward higher value enterprise customers as an important support for growth momentum and potential margin expansion, a factor they see as underappreciated in the current share price.

???? Bearish Takeaways

Even with an Outperform stance, RBC Capital's 290 GBp target implies that some of the growth opportunity may already be reflected in the stock, underscoring the risk that near term execution hiccups or macro headwinds could pressure the valuation.

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Trustpilot reaffirmed its full year 2025 outlook for high teens constant currency revenue growth, underscoring management's confidence in the enterprise led growth strategy despite a mixed macro backdrop.

The company completed the repurchase of 12,401,475 shares, or 2.99% of share capital, for £270.45m under the buyback program launched on 17 September 2024. This supports EPS accretion and signals disciplined capital deployment.

A new share repurchase program of up to £30m has been initiated, with all shares to be cancelled. This highlights Trustpilot's balance sheet position and ongoing prioritisation of shareholder returns.

The Board also authorised a further buyback plan on 15 September 2025. This reinforces a multi year commitment to active capital management as a core pillar of the equity story.

Fair Value: reduced modestly from approximately £3.35 to about £3.06 per share, reflecting slightly more conservative assumptions.

Discount Rate: risen slightly from roughly 8.21% to about 8.55%, increasing the hurdle rate applied to future cash flows.

Revenue Growth: trimmed marginally from around 16.8% to approximately 16.3% per year, indicating a small slowdown in expected top line expansion.

Net Profit Margin: increased meaningfully from about 6.35% to roughly 9.12%, signalling improved expectations for future profitability.

Future P/E: fallen significantly from around 110.6x to about 62.6x, suggesting a lower valuation multiple applied to projected earnings.

Narratives on Simply Wall St connect a company’s story to the numbers by linking your view of its products, strategy and risks to explicit forecasts for revenue, earnings and margins, and then to a fair value. Hosted on the Community page and used by millions of investors, they make it easy to compare Fair Value to the current share price, assess opportunities, and automatically update as new news or earnings arrive.

Head over to the Simply Wall St Community and follow the Narrative on Trustpilot Group to stay on top of:

How the enterprise pivot, product innovation and U.S. expansion could influence future growth and margins.

Whether buybacks and changes in profitability support a Fair Value above the current £ share price.

How changing discount rates, FX swings and competition might shift the overall risk and potential reward.

Read the full Narrative here: TRST: Enterprise Pivot And Buybacks Will Drive Stronger Future Returns.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include TRST.L.

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