Ideagen (IDEA)

Sector:

IT Services

Index:

FTSE AIM 100

165.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 207.00
  • 52 Week Low: 138.00
  • Currency: UK Pounds
  • Shares Issued: 226.62m
  • Volume: 266,731
  • Market Cap: £375.05m

Canaccord raises price target on 'confident' Ideagen

By Iain Gilbert

Date: Thursday 06 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity raised their target price for British software firm Ideagen from 160p to 170p on Thursday, citing the group's "confident" growth outlook and an "attractive" valuation as their reasoning.
Canaccord said Ideagen's capital markets day had highlighted the "attractiveness" of the risk and audit management software market, evidenced by high confidence in continued organic growth of more than 8% per annum with scope for acceleration to low-teens from 2020.

The Canadian broker, which also reiterated its 'buy' rating on Ideagen, expects recurring revenues to surpass 70% in 2019, noting that they could even approach 80% by 2022, increasing the defensiveness of its shares.

And the company's attractive earnings profile should be enriched by tuck-in M&A, where the firm's chief executive Ben Dorks and chairman David Hornsby had "a strong integration track record".

"In the current uncertain macro times, the relative value of a reliable growth compounder such as Ideagen should go up, particularly as we see that most peers exhibiting similar growth and recurring revenue characteristics trade on 25+% higher multiples," said Canaccord.

"We lift our target to 170p reflecting higher conviction in growth delivery, re-rated peers and rolling forward our DCF. Our target implies 20% upside but we highlight ~80% potential assuming management delivers on its '£100m revenues and £30m EBITDA' target for FY22."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Ideagen Market Data

Currency UK Pounds
Share Price 165.50p
Change Today 0.50p
% Change 0.30 %
52 Week High 207.00
52 Week Low 138.00
Volume 266,731
Shares Issued 226.62m
Market Cap £375.05m

Ideagen Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.53% below the market average99.53% below the market average99.53% below the market average99.53% below the market average99.53% below the market average
95.83% below the sector average95.83% below the sector average95.83% below the sector average95.83% below the sector average95.83% below the sector average
Price Trend
66.14% above the market average66.14% above the market average66.14% above the market average66.14% above the market average66.14% above the market average
47.57% above the sector average47.57% above the sector average47.57% above the sector average47.57% above the sector average47.57% above the sector average
Income
95.34% below the market average95.34% below the market average95.34% below the market average95.34% below the market average95.34% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
84.32% above the market average84.32% above the market average84.32% above the market average84.32% above the market average84.32% above the market average
84.95% above the sector average84.95% above the sector average84.95% above the sector average84.95% above the sector average84.95% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ideagen Dividends

  Latest Previous
  Interim Final
Ex-Div 27-Feb-20 07-Nov-19
Paid 18-Mar-20 26-Nov-19
Amount 0.10p 0.19p

Trades for 10-Jul-2020

Time Volume / Share Price
16:04 46,260 @ 165.00p
17:04 5,000 @ 165.50p
16:28 8,500 @ 165.50p
16:28 8,500 @ 165.50p
16:28 8,500 @ 165.50p

Ideagen Key Personnel

CEO Ben Dorks
COO Barney Kent
CFO Emma Hayes

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