Prosus was among the stronger funds on the Damrak in 2024 and 2025 and provided investors with attractive returns. However, in our October 30, 2025 article, we pointed out that the share price was at the upper end of a strong multi-year upward trend. At the time, the price was trading around €60 and we expected a correction towards €50 as a healthy continuation within the rising structure.
That correction has now not only started, but has clearly gone further than expected. With a current price around €44, Prosus is trading below the previously anticipated correction level. This raises a fundamental question: has the long-term trend actually been affected, or does this accelerated decline actually create a more attractive entry point for the patient investor?
First, read our previous article from Oct. 30, 2025 HERE to be fully aware of the earlier scenario.
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What are the developments at Prosus?
The half-year figures released at the end of November 2025 show that Prosus continues with enabling operational progress. Within the e-commerce business, sales growth remained solid and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization and debt repayment) improved again. Efficiency improvements were particularly evident in meal delivery and online advertising. This confirms a shift in focus from rapid expansion to economies of scale, cost control and structural profitability.
An important strategic step in 2025 was the acquisition of Just Eat Takeaway.com. This acquisition significantly increases Prosus' direct exposure to the European meal delivery market.
The acquisition fits within the ambition to build a leading position in food delivery, in addition to existing interests in Delivery Hero and iFood, among others. At the same time, such a large transaction brings uncertainty. Financing and integration take time, while investors are closely monitoring the impact on margins and cash flow development. The market therefore reacted moderately to the half-year figures. In early 2026, sentiment around technology and e-commerce has become somewhat more cautious and the focus is less on revenue growth and more on profitability and free cash flow.
In addition, the stake in Tencent remains an important factor in the valuation. Tencent is active in online gaming, social media, fintech and cloud services, among others, and is considered one of Asia's largest technology companies. The influence of this stake is still felt in Prosus' share price, but the strategic focus is increasingly shifting to strengthening its own operational activities.As a result, investors are placing greater emphasis on the performance of the core business and on the successful integration of the recent acquisition as key drivers of future share price performance.
What are analysts' views on Prosus' share price?
Average 12‑month price targets for Prosus have inched higher since October, despite the recent price pressure, and now sit around €66. From the current share price, this still points to considerable upside potential.
Analysts remain positive about Prosus' strategic transition from holding company to operating technology group, but point to short-term risks, such as macroeconomic uncertainty and the volatility of Chinese technology stocks, with the stake in Tencent in particular being an important factor.
What is Yelza's view on Prosus' share price?
Below is Prosus' share price chart as of early 2025. The arrows represent the most likely scenario.
The previously mentioned support zone around €50 has been convincingly broken downwards, making the correction deeper than anticipated. An important tipping point now lies around the current level of €44. We expect this zone to hold for the time being and consider it more likely that the price will stabilize and move back towards €50.
A recovery towards €50 is therefore the first obvious scenario. Only a convincing breakout above this level will create room for a further rise towards €62, where clear selling pressure was previously visible.
For investors, this means that the current price level may be relatively more attractive than the previously targeted entry point around €50. A phased positioning may be appropriate, starting around the current level and leaving room to expand in the event of any additional weakness.
For the longer term, our price target remains unchanged at €69, making us slightly more optimistic than average analyst sentiment. From current levels, this implies significant upside potential, provided the strategic transition and operational execution continue to develop as planned.
Conclusion
The correction at Prosus has been deeper than we expected in October 2025. Where a pullback to €50 was considered healthy, the share price is now trading around €44.
Fundamentally, the transition to an active technology and e-commerce group remains intact. Operational performance is improving, but the stake in Tencent continues to determine sentiment and valuation.
For long-term investors, the current share price may actually represent a more attractive entry point than the previously anticipated correction level. Patience and risk diversification remain essential here in the ride to our set price target at €69.
Prosus' next annual results are expected on June 29, 2026.
Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.