Share Name Share Symbol Market Type Share ISIN Share Description
Gear4Music LSE:G4M London Ordinary Share GB00BW9PJQ87 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -6.50p -0.97% 664.00p 660.00p 668.00p 672.00p 662.50p 668.00p 40,984.00 14:22:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 35.5 0.0 -0.2 - 133.84

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Date Time Title Posts
09/8/201520:27Games 4 Music5.00

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Gear4Music Daily Update: Gear4Music is listed in the General Retailers sector of the London Stock Exchange with ticker G4M. The last closing price for Gear4Music was 670.50p.
Gear4Music has a 4 week average price of 626.93p and a 12 week average price of 535.04p.
The 1 year high share price is 677.50p while the 1 year low share price is currently 98.50p.
There are currently 20,156,339 shares in issue and the average daily traded volume is 28,266 shares. The market capitalisation of Gear4Music is £133,838,090.96.
paulypilot: A mate of mine in the city told me last week that there's a lot of Institutional & analyst interest in Gear4Music. This follows several successful site visits to York, where apparently people were very impressed with the way the company is organised - e.g. multilingual customer support, and expansion plans. Also, the penny has dropped that, despite the huge rise in share price, G4M is not expensive when compared with other eCommerce shares when they were achieving similar growth rates. I've seen some jaw-dropping suggestions of what this share could be worth, in an analyst note which went round late last week. Personally, I had intended holding until say £10/share and then top-slicing, but that would only be a £200m mkt cap. Given that sales of c.£100m/per annum are already on the horizon, and that the company is planning capacity growth way beyond that, then it's anyone's guess where the market cap could be heading. A range of PSR of between 2 to 5 is being mooted in the City. This suggests that a market cap of £400m+ is possible in the next year or two. Maybe more. So £20/share or more. I'm not saying that is necessarily right, but as Taurus says above, other people set the rules, and that's how the market is valuing successful eCommerce companies now, and has been for years actually. These stocks are not valued on a PER basis. It's all about top line growth, gaining market share, then increasing margins once the business is more mature. Anyway, exciting times. Getting into a tightly held growth stock, where Instis are keen to buy, is a very nice situation to be in. That's where we are right now, so personally I don't see any reason to top slice any. The downside risk is obviously if something goes wrong operationally, and there's a sharp fall in the growth rate. As we saw with BOO in early 2015, that halved the share price almost instantly. I don't want to alarm anybody, but we have to be mindful of the downside risk, which could also happen here if something were to go wrong. Hopefully it won't! Regards, Paul.
taurusthebear: The next Boohoo? Do you mean G4M will start selling clothes, or that they will get to a market cap. of 1.5 billion quid? The latter would equate to a share price of £75. :0)
ksharlandjiev: From the same link from 728: "While the share price has risen by a factor of four since we initiated in May 2016, it still stands at a discount to larger UK pure-play e-tail peers." G4M’s share price has risen by a factor of four since we initiated in May 2016. Yet it still stands at a significant discount to larger, pure-play online peers: in fact a discount level of 20% would indicate a share price of 536p. This puts G4M on much higher multiples than UK small-cap peers, but we see this as justified by its higher growth characteristics. Indeed, taking into account relative growth, reflected by the PEG ratio, the shares could be priced at 651p, a calendar 2017 P/E of 58.6x.
adamb1978: Pleased with that. The market can now start to look at FY18 from a valuation perspective given that FY17 is in the bag and the share price looks very fair. They're also on course to hit £100m turnover in FY19 and quite feasible to see how the share price could get to 1000p in 3-4 years. Continue to hold
taurusthebear: The nice thing about G4M is the size of the company. Some may look at the share price chart and think about momentum investing, whilst others might think it's gone far too high from a quid in June. The reality is that, at a fiver, the market cap. will still only be £100 million, for a company likely to generate £3m PBT this year, and growing as fast as a very fast thing. I told myself I would stop buying at £4, but have been unable to resist grabbing a few more this week. Unlike Paul, I can foresee G4M going well past a tenner in the next few years... :0)
che7win: Not facts, that's judgemental prejudice. You have decided to elect yourself to be the group think spokesperson on this board. You don't want to listen to the facts, the business will ultimately decide the share price, not you or I. Just because I think G4M is overvalued doesn't mean it is, neither does your bullish stance mean you are right. Time will ultimately decide who is right. You seem very emotionally attached and protective, lighten up a bit. A little word of advice, don't have all your eggs in a few companies, it's dangerous. I happen to think G4M is a great business, just got ahead of itself hence the +40p fall today - FACT.
multibagger: Re posts 343 & 344 Fantastic share price rise for those who got in early, but looks frothy to me given the near vertical climb. Smaller volume share trades coupled with new share price high, is something I have learnt to be cautious about. People wondering if this will be the next ASOS/retail growth story and don't want to miss the boat...but I would be very cautious to enter at these levels, growth potential not withstanding. This is often the kind of share price climb that will often sway management into raising funds....good luck all :)
kcr69: No doubt about it, a great set of results with earnings at £750m (eps 3.7p), pretty close to my mid level estimate of £779m. On that basis, and given the positivity of the outlook update, it would suggest full year 2016 / 17 earnings will be around the £2.5m mark, rating the current share price on a slightly ridiculous PE multiple of only 25 times for a business with 2 year growth prospects well in advance of 50%. I still believe a forward earnings multiple of 40 is extremely conservative for the business and maintain a belief that a share price of £4.50 - £5.50 will be seen by Xmas 2016, if not in the coming days and weeks, irrelevant of what happens with the share price today. With an initial stab at 2017/18 earnings at £3.5 - £4.0m a share price heading towards £8 by end of 2017 looks completely reasonable. @paulypilot. Paul, I believe you said that you are seeing the management team today. Two points from me with regard to the interims if you get the opportunity. Gross margin at 26.6% was a full 1% higher than H2 2015/16. Would be good to understand if this is solely currency driven or backed by more fundamental actions. Labour costs increased by £200k (approx 13%) from H2 2015/16 on approximately the same revenue. While this is clearly part of the growth strategy, it would be good to understand more about future labour cost growth and the upper limit as a % of revenue that is being targeted. All in all, the story remains as strong as ever and I remain hugely bullish. Best wishes all.
paulypilot: Whilst the Yorkshire Post article above is several years old, I think it's very interesting in that the CEO's optimism at the time was well-founded. The company has subsequently delivered exactly what he said it would deliver. That's important to me, as it shows the CEO is positive, but realistic. Remember this is not a start-up, it's been going for about 13 years. If only all AIM companies had management which had these characteristics! I also liked that he didn't try to take all the credit for strong performance, but referred to having great staff. Again, that speaks volumes to me - a grounded person who recognises that it's all about teamwork. Although the share price has risen a lot recently, I think it's justified, based on stellar growth & breaking strongly into Europe. Let's see what the interim results are like, but right now I have to say this is probably my favourite GARP share. Also after recent share price rises, this is now one of my largest long positions. No plans to sell any for the foreseeable future, it's all about running the winners when you find something good. Regards, Paul. (long)
paulypilot: larva, I don't see what relevance Indigovision has to Gear4Music. Completely different sectors, etc. Let's stick to the correct topic - which is Gear4Music. Incidentally, I lost a lot more than £1m on IND - although of course it was giving back profit, as it 30-bagged originally. If G4M comes anywhere near to that level, I'm sure we'll all be very pleased! Please do try to refrain from ad hominem attacks. That may be de rigeur here on advfn, but it's very tiresome, and simply undermines you, by making you look petty & unpleasant. As a strong supporter of BOO after its profit warning at 24p (now 90p), and MYSL at 40p (now also 90p), my recent (last 2 years) track record on online retailers has been rather good, as you can see from my online fantasty portfolio here: I think G4M has the potential to be another big winner. If you look at the latest note from Panmures, it is only forecasting 37% sales growth for this financial year (ending 28 Feb 2017), whereas the company recently announced 73% sales growth in H1, and profitability ahead of expectations. So it looks as if the coming year is heading towards achieving FY2018 forecast a year early. This is why the share price has been shooting up. Mkt cap is still only £45m (at 225p), which looks a bargain to me, considering the company should do about £60m revenue this year, and is heading for a stated target of £100m. A PSR of 1 is not demanding, so I think we can look forward to a mkt cap of c.£100m (around £5 per share) in the next year perhaps? That's providing nothing goes wrong of course. As with any share, there are no guarantees. I reckon this share is off the radar, and of course is very tightly owned by Directors. It's a bit worrying that one Director has offloaded a fair few recently, but pleasing they've been bought by shrewdies Hargreave Hale. My hope is that, once the market cap is over £100m, other Institutions might spot this strong growth stock, and bid the price up to the stratosphere in order to secure some stock. That's exactly what happened with Asos, and then BooHoo. Why buy a loss-making crock like KOOV, when you can get a rapid growth, PROFITABLE online retailer here? Not just UK either, G4M is expanding even more rapidly in Europe. This stock looks exciting to me, and is starting to get noticed. With these rapid organic growth companies, it's not about the PER. To a certain extent the market ignores PER in the rapid growth phase, so they can get very "expensive" on conventional metrics. The trick is to run the position regardless, as this type of stock can go through the roof, potentially, if Instis decide to out-bid each other to buy the limited amount of stock available. DYOR as usual. Opinions not advice. Regards, Paul.
Gear4Music share price data is direct from the London Stock Exchange
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