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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Interactve Pros (See LSE:DXR) | IPH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.75 | 1.75 |
| Top Posts |
|---|
Posted at 26/9/2008 15:23 by masurenguy This stock was tipped by both the IC and Profit Watch last year. Hope that anyone who bought in by following these tips operated a strict stop loss and got out whilst the shares still had a three digit price !.................... Chiva20 - 19 Jan'07 - 177 of 442: IC tip - IPT is therefore expected to more than double its pre-tax profits to £5.2m this year, which translates into EPS of 9.3p (6.2p in 2005). Next year, EPS is forecast to increase by another third to 12.4p. IPT is a leader in a fast-growing sector, so the prospective PE ratios of 15 times for 2007, based on a share price of 185p, suggest this share has good times ahead of it. piu888 - 27 Mar'07 - 249 of 442: Profit Watch Recommends Dear Fellow Profit Watcher, There's a huge trend building in 2007 and it's one that we at Profit Watch want to be on. The profit opportunity we want to talk to you about is online advertising and I believe the little UK stock you're about to read about is the best way to play it. Think of internet search engines and you think of Google, right? It's without doubt the biggest, most important player in that sector. Well, we believe the stock my colleague, Richard Muller, is about to reveal to you could be destined to be the "Google of online advertising" at least in the UK. And that makes it a great stock for you to buy right now. Richard is very excited about this one and makes it his top profit play for 2007. The company in question is Interactive Target Prospect Holdings (AIM, ticker: IPH). The company has a market cap of just over £80m and is trading at around 200p. It's an AIM-listed stock so you won't be able to hold this in your ISA, but you can hold it in your SIPP. Considering the positive fundamentals, IPH should trade at a significant premium to the sector averages so at the current level, it looks very cheap to me. Assuming a reasonable growth rate in earnings per share of 30% per annum and a P/E of 30 times earnings, IPH could trade close to 395p by the end of 2007, and 514p by the end of 2008. This means it offers Profit Watch readers and any other smart investors buying at the current price of 188.5p a potential return in excess of 174% over the next two years. ACTION TO TAKE: Buy Interactive Prospect Targeting Holdings (IPH) at 240p or less. Stop loss at 150p. |
Posted at 03/1/2008 22:21 by dibbs Hi Mas,I'll have to take a fresh look at TMN, cheers. I had to laugh and the new guy, posts every few minutes, I could never do that, too slow typing! I always think of HBG and the directors buying a couple of weeks or so before someone switched the lights off. This implicit trust that Director or new investor buying is based on superior inside knowledge does not always stand up as I learn't to my cost! Dibbs |
Posted at 03/1/2008 16:40 by masurenguy Why everyone should always DO THEIR OWN RESEARCH rather than follow tipsters !19 Jan'07 - 177 of 381: IC tip. While the traditional print media struggles to increase advertising revenues, online advertising is growing at a staggering rate. One company benefiting from this growth is Interactive Prospect Targeting (IPT). It is an online direct-marketing company that specialises in e-mail marketing - a sector that, in the UK, is expected to grow from a current annual spend of around £125m to more than £300m by 2008 IPT is expected to more than double its pre-tax profits to £5.2m this year, which translates into EPS of 9.3p (6.2p in 2005). Next year, EPS is forecast to increase by another third to 12.4p. IPT is a leader in a fast-growing sector, so the prospective PE ratios of 15 times for 2007, based on a share price of 185p, suggest this share has good times ahead of it. 27 Mar'07 - 12:46 - 249 of 381: Profit Watch Recommends. Richard is very excited about this one and makes it his top profit play for 2007. Why "the UK's own Google" could hand you 174%. The company in question is Interactive Target Prospect Holdings (AIM, ticker: IPH). The company has a market cap of just over £80m and is trading at around 200p. We're about finding extraordinary opportunities that could deliver outstanding profits. That's why we like this stock. IPH is the UK's largest online direct emailing company. It has a blue chip client base of over 250 customers and is operating in a high growth market with turnover close to £20 million in 2006. Clients include Royal Bank of Scotland, Lloyds TSB, Tesco, Vodafone, Carphone Warehouse, Royal Mail, Yahoo, Morgan Stanley and Halifax, to name a few. Where I believe IPH is ahead of Google, is that IPH can send advertising to its database members, the consumers, and does not have to wait for the consumer to first do a keyword search for items that they would be interested in. "views". Should IPH in theory not be worth more than the $1.65billion? It might be an extreme comparison, but I think that IPH is definitely worth more than its current market cap of £80 million, or even £166m. The stock is trading on a Price to Sales ratio of 6 vs. the sector average of 94, and Price Earnings ratio of 23.97 times, vs. the sector average of 25.21. IPH generates a ROE of 14%, vs. sector average of -11%. Considering the positive fundamentals, IPH should trade at a significant premium to the sector averages so at the current level, it looks very cheap to me. Assuming a reasonable growth rate in earnings per share of 30% per annum and a P/E of 30 times earnings, IPH could trade close to 395p by the end of 2007, and 514p by the end of 2008. This means it offers Profit Watch readers and any other smart investors buying at the current price of 188.5p a potential return in excess of 174% over the next two years. ACTION TO TAKE: Buy Interactive Prospect Targeting Holdings (AIM:IPH) at 240p or less. Stop loss at 150p. |
Posted at 22/5/2007 09:36 by bluebelle t0pHad I been an investor, the way the results and AGM were handled would have worried me. As it was, I was disinclined to move it from my watch list into my portfolio. I had the distinct impression that the Board - especially the Chairman - were taken by surprise by the underperformance, and I did not find the Chairman's statement reassuring : it smacked to me of complacency and didn't convey - at least to me - the impression that they knew what the problems were, and had a strategy to sort them out : there's only so much you can do for so long by dangling larger and larger carrots in front of an already pressed salesforce. Just my impression, but still only on the watch list, and moving lower down on it unless and until I am convinced they have a sustainable offering, which at the moment I'm not. |
Posted at 22/5/2007 09:11 by bluebelle coolThat's interesting. I don't know the company at grass roots level as you guys do, but as I posted a few months ago, when I researched the company and decided not to invest, that one of my concerns was that it is so sales driven and doesn't seem to have a clear marketing strategy. It also seemed very thin in terms of senior management. Companies like this have a much greater capacity, in my often painful experience as an investor, to surprise on the downside than the up, for the simple reason they have no tangible assets and have to set really ambitious sales targets to drive the staff and sustain the share price and some unforeseen event - as basic as the unexpected departure of a good salesman or a flu outbreak - can have a dramatic effect on profit and share price. Once the company gets a reputation for disappointing - as this one disappointed with the last set of figures without giving a really good explanation as to how it was a one off - then it has to work doubly hard to regain investor confidence. |
Posted at 30/3/2007 13:04 by brennymcl They are making an operating profit.There is a huge market opportunity in the UK and Europe: They want to 'seize' it. I want them to seize it. They are using cash from investors to buy companies that will be earnings enhancing and allow them to extend the range of in house skill so they can grow. They have successfully deployed that cash in their own opinion so far. If they just made money hand over fist so they could afford to pay for acquisitions from profits they might as well be private and finance the acquisitions out of cash flow but they have larger growth ambitions and are asking for investor help. I am giving them some of my money to help because I think they can spend it better than I can and produce a higher return in the long term. The share price has disappointed me this week, I believe in the fundamentals with good reasons and I do agree this is a high risk play but one that could present a very attractive opportunity for capital growth in the next few years. |
Posted at 30/3/2007 11:33 by brennymcl I agree that you have to keep the investment potential and customer experience separate. But you can only take that so far; after all investors interests are closely aligned to a customers interests as long as the company profits from more customers. I think this makes your example a bit silly; Why? Because IPT don't make a loss when they sell to us they make a profit, and a good one. BMW would have to make a loss like you said to put a smile on my face but IPT are managing that and making a good profit.With regards to using investors money for acquisitions this is a great strategy for IPT for a few good reasons: 1. The have got the model working in the UK very well. 2. They still have room to grow market share in the UK and improve the model. 3. The market is expanding in the UK and elsewhere. 4. Some players in Europe are as big but are not making as much money yet. I think they work things out carefully and I have confidence that if they are paying a higher multiple for something than I expected it is because they probably know something I don't which is how to grow that company quickly with their technology, sales process and experience and reduce the overall p/e from the transaction going forward. My feeling from the quote "2006 has been a year of acquisitions" is that they will be focusing more on integrating and maximizing the income from last years acquisitions which if they are successful, and I am betting they will be, that should have a positive impact on H2 2007 and even more so going forward. To integrate a company the size of the one they have just integrated in such a short space of time and successfully is a major achievement all the while with a very tough growth estimate in the background and they hardly missed it by a mile! My view is there should have been a fall because they didn't beat estimates but it shouldn't have been this severe and the company has consistently shown it can grow year after year so punishing it this much now is irrational and driven by weak and scared holders. I have even further confidence that a entrepreneur who has proved himself is at the helm and owns over 10% of the equity another great reason to have faith. |
Posted at 30/3/2007 10:15 by bluebelle brennyCan only speak formyself but I'm happy to debate issues as long as people are constructive and don't throw their toys out the pram like okyah when someone disagrees with them, and it doesn't take up too much time. My take on this is that,with respect, your conflating (if that's the right word!) two things which, as an investor, need to be kept separate. i.e. Your experience as a customer and the investment potential of the stock. As a customer you've had a good experience and you're happy which is great...up to a point. If BMW dropped the price of a Mini to £3000 and kept everything else unchanged, and I bought one, I'd be happy. But if, by doing that, they lose £7000 on every sale, they will run out of cash and the only thing up for debate is when, not if. IPH is, IMHO, treading a well worn path of companies building massive, and costly, databases for which they need similarly large regular revenue streams to maintain and develop : before you know it, you're running very fast just to stand still. By capitalising the costs, and adopting a policy of aggressive acquisition, top line growth looks great, but ultimately the only thing that matters is cash. The history of companies in this sector is one of continually going back to the market for money with a promise of jam tomorrow until the market has had enough and they end up being sold to one of the larger players for a fraction of their 'peak' value and a price related to net cash plus maybe a small premium for good will. Whether or not that happens to IPH remains to be seen. As a customer, you may still be happy in three years time - after all if you're getting a good service it doesn't matter to you who owns it - but I suspect that your good service will be paid for by investors who, unless I'm very much mistaken and misreading these runes incorrectly, will be asked to dip into their pockets before then. |
Posted at 29/3/2007 14:07 by bluebelle okHeadline operating margins mean very little with this type of company, certainly to investors like me : what is important is net profit and, even more important, net cash. The jury is NOT out on cash generation as far as I'm concerned : there were some very good posts about this here (not by me I hasten to add) in, I think, December / January. I think the jury has delivered its verdict over the last few days. You're right about investment in web sites, but that's just the problem some of us have been warning about for quite some time now. You can buy growth, either by acquisition or by investment, capitalise your investment and show the (notional) value of the acquisition as an asset, but unless those investments/assets are cash generating, you run the risk of basking in the warm cosy glow of an artificially inflated asset valuation, producing an asset price bubble (i.e. an over valued share price) which bursts on any negative news. Like some other posters, I was also a bit surprised by, if my reading is correct, the rather complacent tone of the Chairman's comments. What's that quote ? If you can keep your head when all around are losing theirs....you probably haven't appreciated the full extent of the problem ! Time will tell but I think the only thing which will produce a material upward movement in share price post-bubble, if that's what it is, is cash inflow to underpin it. Markets (i.e. investors) don't like surprises, especially nasty ones, and the fact that the latest news was completely unexpected following the January (I think) trading statement makes me wonder about the positions of the Chairman and CEO. Do they now still have the credibility with investors so that the latter group will believe future trading statements and forecasts, or is there a need (if they can find one) to draft in a heavyweight figure to try and restore 'City credibility' ? Each to his own, so by all means have your small punt, but this is not for me at the moment. |
Posted at 29/3/2007 09:44 by bluebelle tOpI agree. re your last point, the difficulty I always find in assessing companies like this is finding out from the Rep & Accs exactly what the trading position really is. Because they can 'capitalise' almost everything, as long as they keep on the acquisition trail - preferably for them, paper based - everything in the garden looks lovely, but once top line growth slows (and a collapse in the value of their paper often has just that effect : I remember Sam Brittain's article on why share prices matter and that is one of the main reasons in this context!)things can unravel quite quickly. The only thing that really matters long term is the extent to which cash flow is going to be positive or negative and how that translates into the usual valuation criteria - P/E etc. - going forward. Everything else is speculative froth based on 'market position' etc. I try and find growth companies in growth sectors which is how I began following this one in the first place, but as I posted some months ago, it met virtually none of my 'safety' criteria which, I've learned through bitter experience and Benjamin Graham, are a lot more important ! I agree with you about future financing, assuming it's necessary, which one must presume it will be if they keep on following their current strategy. This is not a bank proposition at all which leaves options such as a highly dilutive rights issue at a hefty discount even to the current market price (which could well fall further in anticipation of that) rather than a premium, or an institutional placing aimed primarily at current investors. Either way, 205 looks some way off. They could, of course, try and sell certain of the operating companies, but that brings its own problems. In any event I can't help but feel that the outlook for PIs is a bit bleak for the foreseeable future, and certain tipsters have, on the basis of recent recommendations, a certain amount of egg on face ! |
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