Ideagen (IDEA)

Sector:

IT Services

Index:

FTSE AIM 100

146.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 172.50
  • 52 Week Low: 119.00
  • Currency: UK Pounds
  • Shares Issued: 219.81m
  • Volume: 92,579
  • Market Cap: £320.93m
  • Beta: 0.01

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 146.00p
Change Today -2.00p
% Change -1.35 %
52 Week High 172.50
52 Week Low 119.00
Volume 92,579
Shares Issued 219.81m
Market Cap £320.93m
Beta 0.01

Ideagen Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
95.14% below the market average95.14% below the market average95.14% below the market average95.14% below the market average95.14% below the market average
96% below the sector average96% below the sector average96% below the sector average96% below the sector average96% below the sector average
Price Trend
45.13% above the market average45.13% above the market average45.13% above the market average45.13% above the market average45.13% above the market average
54.13% above the sector average54.13% above the sector average54.13% above the sector average54.13% above the sector average54.13% above the sector average
Income
95.31% below the market average95.31% below the market average95.31% below the market average95.31% below the market average95.31% below the market average
95.12% below the sector average95.12% below the sector average95.12% below the sector average95.12% below the sector average95.12% below the sector average
Growth
75.28% above the market average75.28% above the market average75.28% above the market average75.28% above the market average75.28% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% 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
  Final Interim
Ex-Div 07-Nov-19 28-Feb-19
Paid 26-Nov-19 20-Mar-19
Amount 0.19p 0.090p

Trades for 17-Sep-2019

Time Volume / Share Price
15:25 4,050 @ 145.50p
15:14 9,100 @ 145.00p
14:55 2,174 @ 145.00p
14:12 13 @ 145.40p
12:44 10,913 @ 145.00p

Ideagen Key Personnel

CFO Graeme Spenceley
CEO Ben Dorks
COO Barney Kent

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