Share Name Share Symbol Market Type Share ISIN Share Description
Taptica LSE:TAP London Ordinary Share IL0011320343 ORD NIS0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 305.00p 300.00p 310.00p 305.00p 305.00p 305.00p 54,430 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 125.9 19.6 26.3 11.6 184.58

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Date Time Title Posts
26/5/201717:08Taptica International Ltd51
04/2/201708:04TAP Oil A re-birth for the man who led Salamander Petroleum-
24/5/201223:35ADVANTAGE PROPERT INCOME TRUST yld15.6%645
25/8/200912:13Commercial property on the rise10

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Taptica (TAP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-05-26 16:21:47305.003,28310,013.15O
2017-05-26 15:43:46305.008,00024,400.00O
2017-05-26 15:43:41305.008,00024,400.00O
2017-05-26 15:18:28300.00141423.00O
2017-05-26 15:07:27305.00324988.20O
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Taptica (TAP) Top Chat Posts

Taptica Daily Update: Taptica is listed in the Media sector of the London Stock Exchange with ticker TAP. The last closing price for Taptica was 305p.
Taptica has a 4 week average price of 275p and a 12 week average price of 230p.
The 1 year high share price is 317.50p while the 1 year low share price is currently 60p.
There are currently 60,517,790 shares in issue and the average daily traded volume is 123,199 shares. The market capitalisation of Taptica is £184,579,259.50.
simso: I am sure earlier posters are right about the timing of the Trading Update...that it needs to be a full month after the last Director trades, which was 18th April. I must admit i am hugely enthusiastic about this share, and think the brokers views look very, very pessimistic. Usually any Trading Statement which utters the magic words "significantly ahead of Expectations" means only one thing for the share price! Having said all that, I usually take real notice of Sells/Buys by a Finance Director, on the basis that "who knows the trading, numbers, forecasts etc better than him?", and 18th April was a substantial SELL. I have rationalised it as being "fair enough" that he wanted to trouser some money, after such a meteoric rise in the share price over the last year. I am hoping that its not just "confirmation bias!!"
gary1966: Dibbs, Momentum indicators are bombed out as well and so have added more just now at £2.80. Trade not showing up yet. Assuming that the company will be providing a trading update shortly, I think that will be the catalyst for a run in the share price. GLA
samsj: ade45 - after a significant rise in share price. He didn't buy any of his shares - granted under incentive plan in early 2015 from previous years.
rivaldo: The FD/CFO is almost always the lowest paid Board member. To sell a reasonable amount after the share price rise experienced by TAP, and particularly with TAP being so illiquid as others have pointed out, is perfectly reasonable. It's also encouraging that buyers were evidently easily found at above 300p for an unusually large tranche of shares. The share price fall is a fuss about nothing. I suspect it will be quickly reversed in stable market conditions.
dibbs: Trading update last year on 11-05 so positive news could be not too far around the corner? Current consensus forecasts on Stockopedia are EPS 26.7p for year end 31-12-17 and 28.3p for year end 31-12-18. Earnings have been upgraded many times for the current year from 12.7p in April 2016 to the current 26.7p! If the current momentum continues there is plenty of scope for 2018's forecast to be raised considerably from the current level of 28.3p I'm finding it hard not to envisage a share price far above the current level if TAP continues to perform as they have been of late. Dibbs
kcr69: So, ahead of FY16 results and an update for Q1 2017 in 8 days time, I have updated my own thoughts on where I see this going and also tried to qualify any possible logic to the current share price. With regard to the latter point, I am not convinced the wider market are accepting and applying the current exchange rate when looking at earnings, and clearly the PE of at most 15 suggests a question mark still exists over the ongoing growth potential. With regard to the former point the following has many assumptions but is based on what we do know from the company and trends over the past 2 financial years. FY 2016 Revenue $126m Gross Profit $44m (Gross margin 34.92%) Operating Costs $25m (19.8% of revenue v's 24% in FY15) Operating profit $19m Net Financial Costs $0.5m Tax $4.7m (25.4% of PBIT - average of past two years) Earnings $13.8m (£9.5m at exchange rate of 1.45 or £11m at 1.25) EPS 22.8 cents Revenue growth H1 52.8%, Revenue Growth H2 77% (this latter figure is clearly important) FY 17 Estimates Revenue $220m (H1 87.4% Yr on Yr, H2 65.7%) Gross Profit $78.1m (Gross margin 35.5%) Operating Costs $41.3m (18.8% of revenue) Operating profit $36.8m Net Financial Costs $1.0m Tax $9m (25.1% of PBIT) Earnings $26.8m (£18.5m at exchange rate of 1.45 or £21.4m at 1.25) Basic EPS 44.34 cents Re-assuring that the FY 2017 EPS is similar to others who have posted thoughts although I genuinely think it is at the conservative end given comments from the CEO and run rate through H2 2016. With regard to what I believe is fair value, I have to believe this will start to get rated on a PE of at least 15 - 20 going forward and as such I see fair value as Based on FY 2016 earnings £2.36 - 3.65 (exchange rate of 1.45 - 1.25) Based on FY 2017 earnings £4.59 - £7.09 (exchange rate range as above) The mid point of all of the above is about £4.70, which is my finger in the air view of the minimum price of where I believe this should be trading over the coming months, IF the 2017 numbers are anything like what I have outlined above. Any glaring errors please let me know!! On a side note, Someuwin, many thanks for the many informative posts.
dibbs: Stockopedia are showing year end 31-12-2016 EPS of 23.2p and 2017 of 25.6p Both were recently upgraded. EPS growing nicely and PE still around 10 with scope for further upgrades in my opinion. Even if the market does not afford TAP a higher PE the share price can still rise. The better case scenario is of course that the market gains the trust in TAP to value at say a PE of 15 which would see 384p on 2017 earnings. Dibbs
kcr69: Hi Croasdalefc Also been in G4M since £3.00 and fairly recently into PURP, both which I believe will continue to grow strongly over the next couple of years, however I have to say TAP excites me a lot, and took a relatively decent sized position here prior to Christmas. As someuwin has just mentioned, the sector is about as good as it gets, and TAP appear to be doing all the right things with regard to both organic growth and new territories, and with no debt to boot. I have read that the overseas origins of the business could continue to act as a bit of a drag on share price, clearly something is, but I just don't believe the stellar performance and corresponding dividends can be ignored by the market for that much longer. Best wishes.
dibbs: I am a holder of TAP but do agree with the point that Ramridge has made. Foreign domiciled AIM stocks do often trade on lower multiples than UK domiciled stocks because many have proved to be disastrous investments over the years. XLM is a good example. Pots of cash, good profits, good dividend but trading on a very low multiple. A few years ago a flush of Chinese stocks listed on AIM. Many flew high and then failed terribly RC Group, GNG, HAIK, TAIH, LED and a raft of others either deceased or trading at a fraction of their listing price. Indian stocks have also mostly performed very badly. Then you have stocks like GBO. The problem has been out right fraud at worst, or generally bad corporate governance. TAP looks good which is why I'm invested here and I'm hopeful that it will trade on a higher multiple going forward but it is always likely to trade on a lower multiple than a UK domiciled stock. Consensus forecast for TAP is now 21p for 2016 and 22.6 for 2017. If they beat 2017 a forward PE of 7-8 ish is too great a discount so expectations of a higher share price are not at all unreasonable. Hopefully the forthcoming TS will confirm trading is strong and new investors will feel that despite a higher perceived foreign risk the discount applied by the market is too great and the shares will rerate. Dibbs
dibbs: Interesting write up on TAP below, taken from III. Investec forecasting 21.1 cents for this year. I like the "Our 2017 forecasts are unchanged though now look conservative," admits Liechti" Plenty of room for upgrades if momentum continues to build further. Very happy to be holding here with very good scope for the share price to appreciate further over the coming months. It's a big day for Taptica (TAP). Floated on AIM in 2014, the Israeli firm is back above its IPO price for the first time in 18 months. Demand is driven by blockbuster first half results and a special dividend, with bosses bullish on prospects for the full-year. No wonder the shares surged by 29% Wednesday. Taptica's clever software allows advertisers like Amazon (AMZN), Disney (DIS), Facebook (FB) and Twitter (TWTR) reach the right market via mobile devices. This work helped revenue increase by 53% to $51.8 million (£39.6 million) in the six months ended 30 June. That swelled adjusted cash profit to $9.2 million from $2.8 million a year ago, and pre-tax profit sixfold to $6.85 million, giving bosses confidence to pay a one-off dividend of 5.79 cents, or 4.4p a share. We'd been told back in July that business had been better than expected, largely due to surprisingly high margins on campaigns run for clients. Gross margin rose from 26.4% to 34.4% in the six months, and chief executive Hagai Tal tells Interactive Investor he's "comfortable" to say Taptica will achieve "at least what we did in the first six months". Steve Liechti, an analyst at Investec Securities, keeps sales estimates for this year unchanged at $111 million, up from $75.8 million in 2015. But he thinks Taptica will more than double cash profit to $18.4 million, up from his previous estimate of $17.7 million, and grow underlying earnings per share from 8 cents to 21.1 cents. He'd pencilled in 20.2 cents before. "Our 2017 forecasts are unchanged though now look conservative," admits Liechti. Taptica's first half certainly vindicates a decision to target mobile advertising rather than the web, a move aided by the $17 million acquisition of AreaOne in September last year. Mobile business now accounts for 79% of revenues versus 51% in the first half of 2015. It's been a long slog, however, and the share price slumped by two-thirds last summer after the firm, then known as Marimedia, warned its decision to shift emphasis from the display business would damage revenue. "As we went into mobile, we were strong, but focusing on Tier One clients took time," Hagai Tal explained to Interactive Investor. "We've now proved ourselves and it’s easier to attract new advertisers." That includes giant US retailers, which are increasingly focused on mobile ads. "The whole market is growing, and this is just beginning," reckons Hagai Tal. "They haven’t moved all their budget yet, but understand they need to engage with potential customers on mobile. Once they see the light, they start to shift their business." Marimedia floated in May 2014, raising £29.8 million via a placing at 153p. Two months later it bought the Taptica business whose name it took the following year. After hitting a low of 57p last summer, the share price has soared from just 63p in June to a high of 165p Wednesday, a gain of 162%. At that level, the shares trade on a forward price/earnings (PE) ratio of 10.2 times, dropping to single digits based on 2017 estimates. That doesn’t sound expensive, and it's not, but the market has been reluctant to rate Taptica more highly given its track record, preferring instead to see how the transition to mobile goes. It's gone well so far, and investors are clearly happy to pay much more for the shares. As that track record improves, so too should the rating. Investec has raised its price target to 160p based on today's results, but clearly there is room for further upside if the second half goes as well as Taptica predicts. As Investec says, their forecasts could be conservative. This is an exciting business, but at these elevated levels is a 'buy on the dips' for brave investors only.
Taptica share price data is direct from the London Stock Exchange
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