Moonpig Group (MOON)

Sector:

Retailers

Index:

FTSE 250

379.20p
   
  • Change Today:
      6.00p
  • 52 Week High: 488.40
  • 52 Week Low: 365.00
  • Currency: UK Pounds
  • Shares Issued: 342.11m
  • Volume: 228,536
  • Market Cap: £1,297.29m

Numis upgrades Moonpig forecasts

By Abigail Townsend

Date: Wednesday 23 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Numis has upped its earnings forecasts for Moonpig, arguing that the online card retailer is well-placed to benefit from a shift in shopping habits.
The broker, which has a 500.0p target price on the stock, said it remained "enthused" about Moonpig, which debuted on the London market in February.

It conceded that the firm had benefited from a surge in online shopping caused by the pandemic. But it argued: "The level of 'give back' captured in forecasts and IPO guidance looks conservative.

"Increased marketing spend alone can bridge the gap to consensus expectations, which fails to capture any tailwinds from changes in customer habit and the benefits of an evolving proposition.

"We note further extension in card, and management delivering on promised improvements to gifting; web traffic data and peer read-across add further reasons for encouraged."

Numis therefore now expects full-year revenues, earnings before interest, tax, depreciation and amortisation, and earnings per share to be 7%, 10% and 14% ahead of consensus respectively.

It reduced its rating on the stock, however, to 'add' from 'buy'. "Valuation is not cheap, but this is a high-quality, high-margin and well-underpinned earnings agenda," Numis said.

"The shares have rebased around 10% from recent highs, and this looks to be building to a good entry point. The prospect of further upgrades underpins enthusiasm.

"However, the proximity of the shares to [the] target price does see us moderate our rating."

As at 1430 BST, shares in Moonpig - which debuted at 350p - were largely flat at 438.4p.

Moonpig is set to publish results for the year to 30 April next month.

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

 

Moonpig Group Market Data

Currency UK Pounds
Share Price 379.20p
Change Today 6.00p
% Change 1.61 %
52 Week High 488.40
52 Week Low 365.00
Volume 228,536
Shares Issued 342.11m
Market Cap £1,297.29m

Moonpig Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
10.2% below the sector average10.2% below the sector average10.2% below the sector average10.2% below the sector average10.2% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
67.27% below the sector average67.27% below the sector average67.27% below the sector average67.27% below the sector average67.27% below the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
32.00% above the sector average32.00% above the sector average32.00% above the sector average32.00% above the sector average32.00% above the sector average

Moonpig Group Dividends

No dividends found

Trades for 21-Sep-2021

Time Volume / Share Price
16:35 95,202 @ 379.20p
16:29 1 @ 379.59p
16:28 7 @ 379.40p
16:28 13 @ 379.40p
16:28 13 @ 379.40p

Moonpig Group Key Personnel

CEO Nickyl Raithatha
CFO Andy MacKinnon

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