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
  -5.00p -0.97% 512.00p 507.00p 517.00p 517.00p 512.00p 517.00p 19,709.00 14:00:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 35.5 0.0 -0.2 - 103.20

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Date Time Title Posts
09/8/201521:27Games 4 Music5.00

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Gear4Music (G4M) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-03-29 15:28:17516.502901,497.85O
2017-03-29 15:19:14516.507503,873.75O
2017-03-29 15:05:26510.00100510.00O
2017-03-29 14:46:00510.004502,295.00O
2017-03-29 14:36:24510.007003,570.00O
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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 517p.
Gear4Music has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 20,156,339 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Gear4Music is £103,200,455.68.
alphabeta4: IMO there's an outside chance this might do what PRSM did back in January - which is also another well loved but relatively illiquid AIM stock where the share price isn't heavily reliant on PE ratios (but perhaps more volatile there as it's not yet making a profit).
paulypilot: valuehunter, Remember though that this year's figures will include costs for setting up the new regional hubs. The benefit from them should then flow through in future. So at this stage of development, I wouldn't obsess over the detail. The ultimate prize is that this could/should become a £200m+ turnover business in the medium term, and considerably bigger in the long run. Margins then move to a higher level once the business is established, and can reduce its marketing spend. Therefore ultimately I imagine the net profit margin here could rise to say 10%? Also, I think there's scope to greatly broaden the product range. So it doesn't need to necessarily remain fixed on the current niche market. The key thing is that an efficient & effective eCommerce business is being built here, and growing rapidly. That deserves a considerable premium rating. I think eCommerce businesses are being valued more on top line growth, and to a certain extent the PER has gone out of the window. Just look at MYSL - that's on a PER of something like 260! But investors like that they are building a growth platform (slower growth than G4M too). I'm not saying this share price at G4M should necessarily go up any more for now - I quite like it pausing for breath. But this is a stock that Instis want to buy. There's not much liquidity, so the only way they can get stock is to aggressively push the price up. Regards, Paul.
bestace: nurdin - indeed they are but scratching the surface, but my concern is that with a PE multiple of 50+, G4M is rated as a growth stock/momentum play, so it's the rate of topline growth that drives the share price not so much the market share they have. Hopefully the new distribution hubs in Europe will provide further impetus to the growth rate, but despite the headline growth figures, when you dig a bit further the trend rate of growth over the last 12 months has not been so encouraging. DD4 - why not? looking at individual periods YOY provides more of a leading indicator than just looking at the year end figures. The fact that FY2017 shows higher growth than FY2016 hides the fact that H2 2017 was slower growth than H1 2017.
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.
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
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.
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