Accesso Technology Share Discussion Threads

[rivaldo] 21/11/2022 09:27

Some might have missed Friday's late RNS, which notified us of a GM to approve share buybacks.

It's good to see the company being confident enough to confirm that it remains on the hunt for "value accretive acquisitions", but that if these don't occur then the $60m or so and rising cash pile will be put to good use.

Note also the statement that ACSO "continues to be satisfied with the trading of the business and the cash generated to date":

[mortal1ty] 17/11/2022 10:25

Slowly creeping back up again... Above £10 again before you know it.

[rivaldo] 11/11/2022 08:25

Shore Capital have a 900p target price and are bullish:



"Accesso's Cedar Fair renewal underlines strategic value, says broker

Shore Cap remains confident its forecast of 8% year-on-year revenue growth will be met

Accesso’s five-year extension to its Cedar Fair contract underpins its long-term growth potential according to house broker Shore Capital.

Berkshire-based Accesso, which claims to have invented virtual ticket queuing, will see its fully hosted ‘Passport eCommerce ticketing suite’ used across all 18 of Cedar Fair’s parks.

In September, Accesso secured a 5-year extension on a deal with Village Roadshow (ASX:VRL), and Shore Cap said this shows “the solutions provided by ACSO have long-term strategic value”.

Shore Cap remains confident its forecast of 8% year-on-year revenue growth will be met and has a 900p target price."

[itchycrack] 10/11/2022 08:58

"I don't know why the share price isn't reflecting this."

Perhaps its got something to do with the fact we're highly likely to be on the verge of a protracted and deep 2+ year recession with people suffering a combination of high inflation and high interest rates. Consumer discretionary spending will get blowtorched over the next two years. Everyone keeps saying 'oh but inflation will come down'. Actually, No. The rate of change will come down but prices will not, they are just rebasing higher. RoC is just a statistical con trick used to give the perception prices are falling when in fact that will not be the case, just the rate of increase will slow or stop. IMHO you will likely to be able to buy Accesso at a considerably lower price at some point in the next couple of years. Mind you this will apply to most stocks in the consumer discretionary space too. Having the patience to do nothing for the next couple of years will likely be rewarded. This bear market has barely started, long long long way to go yet.

[bouleversee] 09/11/2022 11:14

Yes; I don't know why the share price isn't reflecting this.

[rivaldo] 05/10/2022 07:34

More good coverage of Shore Capital's Buy recommendation here



"Accesso underpinned by cash inflows, says broker

Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF)’s recent interim results highlighted strong double-digit growth along with improved profitability, underlining the share price potential going forward, said Shore Capital.

The broker noted that the virtual queuing and ticketing group had not seen any negative movement in its marketplace, with revenue forecasts raised for the year though costs will also be higher.

"We upgrade our revenue by 2% to US$135m, however improvement in cash EBITDA is offset by acquisition-related costs and therefore remains at US$19mln, 14% margin.

“Going forward we believe ACSO could continue to build on existing exposure, in particular targeting ski resorts and cross-selling the product set technology is encouraging in our view, and whilst mindful of the uncertainty macro factors, we continue to expect solid cash generation over our forecast period."

Buy with a £9 fair value target, says the broker."

[rivaldo] 04/10/2022 06:13

Bullish commentary today from Shore Capital, who have a 900p target price.

Plus the hint of another acquisition to come - hardly surprising given the large cash pile:



"Accesso: Still worth joining the queue, says Shore Capital

Accesso Technology Group (ACSO) has momentum behind it and margins are climbing, says Shore Capital.

Analyst Katie Cousins maintained her ‘buy’ recommendation and set a rough ‘fair value’ target price of £9 on the stock, which closed up 3% at 558p on Monday.

Friday’s interim results ‘highlighted strong double-digit growth along with improved profitability within the period’.

‘Operational momentum was clear with several contract renewals being announced and we were pleased to hear that, so far, the group has not observed a negative movement in its marketplace,’ said Cousins.

A specialist in virtual queuing systems, Cousins highlighted an opportunity for the business to target ski resorts and cross-selling the product set. She raised revenue estimates and said there was ‘scope’ for further increases, depending on how costly the integration of the latest acquisition is, but pre-tax profit margins should return to 20% by 2025."

[rivaldo] 20/9/2022 08:06

Most will likely have missed yesterday's Bank Holiday RNS!

Long Path Partners in the USA have once again been buying. They now own 13.22%, or 5.46m shares, so have bought around another 500,000 shares in the last month:

[bouleversee] 14/9/2022 11:48

Interesting that the share price has shot up today when the market is generally down. Keep going and it may get back up to my top up price.

[strange1] 14/9/2022 10:50

For a business that normally does 60% of its revenues in H2, I would say that eps is fairly impressive against the current valuation. The only question marks I'm left with is that I don't fully buy the explanation of the gross margin reduction and its not fully clear of the full year impact of the increase in FTE.

[wad collector] 13/9/2022 19:32

Seems to be the standard market reaction atm to any updates or results, whatever they show. Odd.
I wonder how many holders lose their nerve and sell now. Most , like me, I suspect just roll their eyes and await better times.
Mind you a 5p EPS is not exactly overwhelming for a 550p share.

[supernumerary] 13/9/2022 15:02

No I don't hold either, but I continue to follow with interest. Apart from anything else they're sitting on a shed-load of cash, which is presumably held in dollars, so in prime position to act should they see a bargain. Of which there are lots, although getting the right fit would obviously be crucial. The float is still tiny, so should anything happen, the share price will move fast, as always.

[spud] 13/9/2022 14:34

No longer invested but having digested the results, the price reaction seems strange to say the least! Mind you, I've long given up trying to second guess the Market.

spud

[supernumerary] 13/9/2022 10:25

Disappointing reaction to what I thought was quite a strong set of results in a difficult environment. It seems to be becoming the norm for the 1H results to be knocked although everyone knows it's the weaker half. It will be interesting to see whether the analysts are convinced enough to pile in over the course of the week.

If the ST says anything I guess they'll say 'even better bargain now than when we tipped it'!

[bouleversee] 13/9/2022 09:27

So do I, especially since I topped up yesterday afternoon at 609p after reading it.

[aimingupward2] 13/9/2022 07:45

I wonder what the Sunday Times will make of this share price reaction after tipping it strongly only a couple of days ago.

[nchanning] 13/9/2022 06:54

Looking back they always had a significant H2 weighting including before the pandemic so it seems surprising they haven't upgraded expectations yet after such a strong H1

[rivaldo] 13/9/2022 06:41

Good to see ACSO reiterate that they expect 2022 to be in line with expectations.

The cash pile is at almost $59m, down slightly for various reasons. In particular, H1 is always by far the seasonally weaker period, so given that we're now in mid-September ACSO should be pretty confident of meeting those expectations or they wouldn't be saying so.

The Food & Retail acquisition made July 1st is intriguing - from the narrative it would appear to open up the entire restaurant and hospitality sector for ACSO as well as just those in theme parks etc?

I'm guessing Six Flags are the operator who've changed their admission policies as mentioned to a more premium product, which fortunately hasn't had a material effect.

[supernumerary] 12/9/2022 08:05

I thought this looked hopeful:



Disney Theme Parks Ride Q3 Surge; Revenue Up 72% Year Over Year

The Festival of Fantasy parade tonight at Disney World is going to have some extra bounce in its step after today’s quarterly earnings report from the House of Mouse.

In no small part due to the return of big crowds to the sprawling Orlando funfair, Disneyland, and Disneyland Paris, the Bob Chapek-led entertainment giant saw profits leap 50% in its Q3 2022 results. Even with continuing pandemic downturn at Shanghai Disney Resort, the Stateside shedding of the funk and blues that hung over Disney’s theme parks over the past two years of Covid-19 seems to be complete with a 72% revenue surge over Q3 2021 results.

[...]

[rivaldo] 12/9/2022 07:20

Cheers for highlighting W13Ken. It was great to pick up my Sunday Times yesterday and see ACSO tipped so prominently!

Which suggests that tomorrow's interims will come across rather well, preceded as it has been by the very strong AGM update and all of those recent long-term contract wins/renewals.

As the tip states, "84 per cent of its turnover stems from repeat contracts".

[w13ken] 11/9/2022 16:51

The Times: Accesso a worthy buy.

"...In the meantime, Accesso looks to be a good-value investment, with its price-to- earnings ratio standing at a reasonable 11. Recession could trigger a rough ride for shareholders, but, long term, the digital push in events makes Accesso a worthy buy."

[rivaldo] 07/9/2022 10:51

Looks like ACSO have new products/upgrades ready to launch at the upcoming IAAPA at Excel London:



"accesso promises to ‘showcase the future of mobile’ at IAAPA Expo Europe

accesso is set to showcase what it calls ‘the future of mobile consumer engagement’ at this year’s IAAPA Expo Europe, with expanded solutions designed to help operators connect, engage and build loyalty with visitors

Tom Anstey | Planet Attractions | 06 Sep 2022

With IAAPA Expo Europe just around the corner, accesso has revealed that it will be showcasing what it calls “the future of mobile consumer engagement”, with expanded solutions designed to help operators connect, engage and build loyalty with their guests.

Set to showcase its products at the landmark event in London, the guest experience management, ticketing, eCommerce, queuing and distribution specialist will show how its technology can help operators deliver on the modern expectations of the digital user.

“Operators in leisure and entertainment are in the business of delivering fun,” said Andrew Jacobs, accesso CCO. “With our proven, mobile-first solutions designed to make each step of the guest journey simpler, we look forward to helping operators maximise that ability, both within and beyond the confines of their venues.”

Accesso will be located on the IAAPA Expo Europe trade show floor at Booth 2110."

[rivaldo] 07/9/2022 06:17

More good news - the contract with Village Roadshow has been extended for another 5 years.

That's Merlin, Six Flags, Parques Reunidos and Village Roadshow all tied up for the next 5 years or so, and all agreed this year - a huge proportion of ACSO's client and revenue base.

Also good to see Village Roadshow are so happy with using ACSO's complete end-to-end tech suite, including the ticketing division:

[rimau1] 06/9/2022 08:04

I keep adding, hopefully the bottom is in but of course this will swing depending on results next week. The market is pricing in a bleak outlook statement / rising costs and risk of revenue downgrades but with net cash of $90M+ At these levels I would guess American Private Equity would snap this up without a second thought.