Dassault Systèmes delivered strong performance so far + 39% YTD and considerably beating its benchmark index.
Recent Medidata acquisition is boosting its recurring revenue share to 85% by 2023 and promoting overall earnings visibility.
Smooth cloud transition with no short-term operating performance destruction.
Strong cash flow generation with a 80% cash conversion ratio is sustainable in the future.
Softer Q4 should bring currently high valuation levels down providing a short-term buying opportunity.