NCR Atleos

NATL · NYSE

$46.56+$0.75 (+1.64%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $45.81

NATL analyst rating

HoldConsensus of 2 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold2
Underperform0
Sell0

12-month price target · 5 analysts

Average $51.27 (+10.1% upside)

Low: $50.50
Now: $46.56
High: $52.92

Upgrades and downgrades

The latest rating actions, newest first

NATL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
DA Davidson	May 11, 2026	Maintains	Neutral	$50.00	49%
Wedbush	Feb 27, 2026	Downgrade	Outperform → Neutral	$45.00 → $50.40	25%
DA Davidson	Feb 27, 2026	Downgrade	Buy → Neutral	$60.00 → $50.00	49%

The case for and against

Updated Dec 8, 2025

Bull case

NCR Atleos Corp is positioned for strong financial performance, with expected EBITDA growth at a mid-teens compound annual growth rate (CAGR) over the next 3-5 years, alongside a projected threefold increase in free cash flow during the same period. The company's strategy to enhance customer relationships and increase average revenue per user (ARPU) through its self-directed banking solutions is anticipated to drive accelerated revenue growth and improved gross margins, benefiting from advantageous unit-level economics associated with ATM-as-a-Service contracts. Furthermore, NCR Atleos has demonstrated regional sales strength, with EMEA emerging as the fastest-growing area with a notable 7.5% increase, indicating robust demand across its global markets.

Bear case

NCR Atleos Corp has experienced a decline in its EBITDA ratio, dropping to approximately 3.2x from 3.6x in the previous quarter, indicating worsening profitability metrics. Additionally, the company's potential exposure to technological missteps and failures to innovate could severely hinder revenue growth and overall profitability in a competitive financial technology landscape. Further compounding these challenges, projections from the Bureau of Labor Statistics foresee a 15% decrease in the number of tellers from 2023 to 2033, underscoring a shift in banking operations that may adversely impact demand for NCR Atleos's self-service banking solutions.

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