Neteller Share Discussion Threads

[dan1man] 24/11/2008 13:23

just realised there's a new thread on NEO now - doh!

[dan1man] 24/11/2008 10:21

RBS up over 20% since i posted this. Marvelous.

[dan1man] 20/11/2008 14:28

I'm still here. Getting v bored of clicking on ADVFN each day and seeing no new posts!

Then again, its a pretty bloody boring share.

I still want to know why directors aren't buying! That and the continued depression of the share price leaves me questioning my conviction that its worth a lot more than this.

If it really is going nowhere for a long time, I'd be tempted to transfer some money into something like RBS. RBS has taken an abolste battering, but is at least showing signs it may have bottomed out. Thats the type of share that could easily see 50% gains in a very short time. That's something that used to be possible with NLR; now I'm just falling asleep here.

YAWN

[polaris] 19/11/2008 20:09

Maybe the new name will bring about a change of fortunes as NLR distance themselves from their past. time will tell.

[amla] 19/11/2008 20:07

Is there anyone out there?

[25cent] 08/11/2008 18:16

At the £/$ rate netellers cash held in bank value has gone up about 20% in the last 6 weeks.

[ziga2] 07/11/2008 12:09

they might when and if US ban clears. meanwhile is better to sit on cash and have options open.

[dan1man] 07/11/2008 11:42

Quiet.

Anyone have any suggestions as to why the Directors are uninterested in buying any shares (in any significant numbers)?

[25cent] 04/11/2008 09:05

Just as we thought US hedgefund forced seller (Franklin Templeton Institutional) forcing this down below cash in bank value.
What a bunch of idiots.
If they intend to sell the rest (5,824,500) this is going to be under the cosh for some time yet.
I guess its just a matter of time for the value to come out but still very very frustrating.

[restassured] 03/11/2008 19:21

Clearly the shares have been shorted,most likely by hedge funds.
Let's hope with the US elections over in 48 hrs we will see global market rallies.

[25cent] 03/11/2008 15:05

In all honestly if it falls after all the recent good news RNS its hard to see just how it could ever recover without corporate action.
Its completely ignored the recent market rally after falling 18p on the market fall.
Hugely disappointing as it drifts lower again to an all time low.
I must admit when shares defy all common logic like this i start to get nervous that something is lurking in the wings, i hope I'm wrong!

[bobby.ifa] 03/11/2008 13:48

My Broker sent me this ealiar and I couldn't resist 10,000 after making a tidy profit on Renesola. It moved the offer a little as well! These are currently priced at thier cash position, let alone the instrinsic value oif the Company. I looks little an oversold victim of the AIM sell off.





NETELLER*
31 October 2008





Leisure
NLR.L (AIM)

Cash = cap

NETELLER has reported solid Q3 results (EBITDA growth 33%) and we are upgrading our FY08E estimates (+5%)

Investment Case

NETELLER has reported Q3 revenue growth of 13.0%, with a corresponding 13% uplift in gross costs. Reduced operating costs led to quarterly EBITDA growth of 33%.

NETELLER has also stated that it has net cash (30 September 2008) of $89.4m. This equates to £55m of group net cash (cable 1.64) against a market cap of just £60m.

With the group consistently free cash generative and trading on negative EV/EBITDA multiples (-0.2x FY09E), the shares are a clear Buy and we retain our 120p TP.







Q3 Update




Upside

Buy
140%

What's Changed





2008E EPS
10.15c vs 9.66c
(+5.1%)

Rating
Unchanged

Price Target
Unchanged




Price
50p

Target Price
120p




Shares in issue
120m

Net debt (cash)
$89m/£55m

Market Cap
£60m

Enterp. Value
£5m

NAV/Share
96.3c

Next Event
Prelims - March '09



* Daniel Stewart acts as broker and
nomad to NETELLER

Company description



NETELLER operates the world's leading independent online payments business.





Download Report







James Hollins [phone] [e-mail]
Sales Team [phone] [e-mail]

danielstewart.co.uk



Subscriber Links: More Daniel Stewart Research | Mailing Preferences

Daniel Stewart & Company Plc Becket House, 36 Old Jewry, London EC2R 8DD
Tel: [phone] Fax: [phone]
www.danielstewart.co.uk [e-mail]

[25cent] 03/11/2008 13:44

Lord only knows why this is testing all time lows, its quite unbeliveable.

[topgunns] 02/11/2008 13:24

Thanks for the numbers. Will look more into these. Long time since I held.

[royalt] 02/11/2008 12:45

I bought £9K's worth of these at £9. Any chance Ill get my money back?

[aspex] 31/10/2008 21:00

kooba - 31 Oct'08 - 09:02 - 21810 of 21820
cash and equivalents $90m = £55.5m.market cap £58.7m.am i wrong?

Whoops! Well just under 100%
I'll take that.

[worsleyandy] 31/10/2008 20:44

Agreed, another excellent update I made another purchase this morning, hope to see us moving to the 65 - 70p range again soon.

[25cent] 31/10/2008 19:43

Top guns Company guidence for year ending December is $12 million dollars.
Its outragously cheap with cash in the bank at the same as market cap and a growing business that makes 8 million quid a year thrown in for free at todays shareprice?

[philjeans] 31/10/2008 16:18

NETeller Forecasts
Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-08 40.39 5.82 4.17p 11.5 n/a n/a 0.73p 1.5%
31-Dec-09 44.60 7.41 4.74p 10.1 0.7 +14% 1.23p 2.5%


This was before todays trading update and could be raised I should think.

[powwow] 31/10/2008 13:44

Is this not under valued now.. with the cash they have should it not be trading higher. I guess they are now deemed to be a company thats no longer exciting and latching onto anything with substantial growth?


Its probably seen as a bit of a boring stock at the moment with gradual growth prospects. Yes I agree its undervalued, but they appear to be valuing it at cash levels at the moment with limited and gradual growth prospects, which is why it moves between 50-70p and nothing more.

It will have to do something special to go higher I'd say or even have a bidder come along and take them at this price just for the cash.

[topgunns] 31/10/2008 09:58

As a former holder, I'm also tracking these. Full market cap in cash.

Hold my hands up, have no profit estimates of my own currently. Can anyone save me anytime with guesstimates or broken estimates.

[25cent] 31/10/2008 09:44

Well at this price the whole business is valued at about 1 million quid.
It said in the rns today that it has $89 million in cash thats about £55 million.
The market cap is just 57 million, they make money 60% margin they are trading in line and directers buying and then a rivals have a 2 million CDS long bet going on,unreal bargain?