Trustpilot LON: TRST

trustpilot.com →

+10%

est. 2Y upside i

Sales & MarketingSeries D+

Rank

#2843

Sector

Digital Marketing & Publishing

Est. Liquidity

~2Y

Data Quality

Data: Medium

Trustpilot (LON: TRST) offers a moderate upside opportunity for a job seeker, with an expected return of approximately 29.25% over a two-year horizon.

Last updated: March 10, 2026

Bull (30%)+90%

Trustpilot successfully navigates regulatory challenges and leverages its strong network effects and AI investments to expand its SaaS offerings, particularly in North America. This drives sustained revenue growth above 25% YoY, leading to significant multiple expansion and a valuation of approximately $1.23 billion by 2028.

Base (45%)+30%

Trustpilot maintains its market position with steady ARR growth of around 20% YoY, driven by its freemium model and continued business adoption. The company effectively manages competitive pressures and regulatory scrutiny, leading to a modest increase in valuation to approximately $838.5 million by 2028.

Bear (25%)-45%

Increased regulatory fines or a significant loss of business trust due to unaddressed fake review concerns severely impacts Trustpilot's brand and growth. Revenue growth slows considerably, and market skepticism leads to a contraction in valuation multiples, resulting in a valuation of approximately $354.75 million, significantly eroding common stock value.

Est. time to liquidity~2.0 years

Preference Stack Risk

high

Funding Intensity

28%

Investors have raised $180M, representing 27.9% of the current $645M valuation, indicating a meaningful preference stack ahead of common shareholders.

Dilution Risk

low

As a public company with active share buybacks, the risk of significant dilution from future funding rounds is low, though ongoing RSU grants will cause some dilution.

Secondary Liquidity

active

As a publicly traded company on the London Stock Exchange (LON: TRST), shares are actively traded, providing immediate liquidity.

Questions to Ask at the Interview

Strategic questions based on Trustpilot LON: TRST's data — designed to show you've done your homework.

  • 1

    “Given the ongoing regulatory scrutiny from the Italian competition authority and past short-seller allegations, how is Trustpilot actively strengthening its review integrity and trust mechanisms to maintain its competitive moat?”

  • 2

    “With North America driving significant bookings growth, what are the key strategic initiatives and product developments planned to further accelerate expansion and market penetration in this region over the next 24 months?”

  • 3

    “Trustpilot has an active share buyback program. How does the company balance capital returns to shareholders with continued investment in growth initiatives like AI and new analytics offerings, and what is the long-term strategy for employee equity value creation?”

Community

Valuation Sentiment

Our model estimates +10% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.