Accesso Technology Share Discussion Threads

[itchycrack] 20/9/2017 19:58

Looks like those who missed the boat are determined to spread negative BS!
Some of these comments clearly show a total lack of basic understanding of market dynamics. This is a long term rocket ship - get onboard and stop complaining or miss out!

[montyhedge] 20/9/2017 17:27

Overpriced p.e 40 seems expensive.

[nhb001] 20/9/2017 15:59

Thanks Spud.

PI - check again ->

[spud] 20/9/2017 15:48

Hi nhb001

Paul bought in here on 6.8.15 @ circa £7 selling out about 8 months later for about a £3 profit. Since then the company has become a worldwide leader in its field acquiring multiple companies along the way. I personally feel that the risk/reward is skewed far more towards the latter now than then. Paul has his reasons for not investing now, but along the way has missed out on one of the Stock Market's highest climbers..

E&OE

spud

[panic investor] 20/9/2017 15:26

He did say however would you pay for a company on a pe of 40

[panic investor] 20/9/2017 15:25

I didn't see that on his post today that's for sure

[nhb001] 20/9/2017 15:22

Hi. I am a shareholder albeit a recent buyer.

Paul Scott had this to say today about the Accesso results.

===============================================================

Balance sheet - looks very weak to me, and is far too reliant on bank debt.

NAV is £81.2m, but that's dominated by intangibles of £116.2m. So NTAV is negative, at -£35.0m, which rules it out for me. Debt is cheap & plentiful at the moment, but what happens if something goes wrong? There's no downside protection. So I'd prefer it if the company did say 10% dilution, to fix its balance sheet.

My opinion - this is undoubtedly a quality company, which dominates its niche, globally.

The issue is obviously valuation. Would you pay a forward PER of 40 for it?

===============================================================

I wasn't sure if the comments about NAV are so relevant for what is essentially a SaaS S/W company but any thoughts welcome.

[rivaldo] 20/9/2017 13:56

Nice bounce from the lows - looks like the MMs got some stock nicely from a few short-termist/trader PIs.

Interesting that every trade today bar one has been an O trade, i.e PIs. There's been just one OK (i.e likely institutional) trade, and that was a £60,000 buy.

ACSO has qualities of recurring revenue, growth rates, global roll-outs, and cross-sector potential - plus extremely capable management - which most other companies don't have. Hence its rating.

Besides, its PEG is just 0.64 given 57% expected EPS growth next year and based on the upcoming forecast P/E. ACSO is thus very good value on Slater's prime valuation method.

[qs99] 20/9/2017 13:37

Just been reading on research tree, latest broker..."Accesso's market cap is currently c. £500m, with the Group trading at PE ratio of 40x versus the industry median of 18" says it all IMO DYOR

[spud] 20/9/2017 09:03

A nice little name drop: 'Ingresso customers include Amazon Tickets'.

spud

[chasbas] 20/9/2017 09:02

Remember Tom B has stated that he knows never to disappoint investors, so he will never over promise.
Meanwhile the Merlin roll out does not complete until end 2017. So full revenue growth from Merlin, Prism, acquisitions etc will only come through from 2018 and after.
IMHO revenue, earnings will be strong from 2018 and the sun may even shine for a change. The story is definitely intact and short term sellers are welcome to take their profits.

[qs99] 20/9/2017 08:46

probably not so swings either way on low volume....

[spud] 20/9/2017 08:44

Regardless of the sentiment of the statement, there's nowt stock about!

spud

[qs99] 20/9/2017 07:58

OK, that's $s for a start and that statement IMO wasn't too upbeat, but let's see Riv. Don't disagree with the sentiment, just the RNS

[rivaldo] 20/9/2017 07:52

Remember that (1) ACSO are forecast to make $21.5m EBITDA this year rising to $39.2m in 2019. And (2) most of ACSO's earnings are predictable, with huge recurring revenues.

The City rewards handsomely companies with such recurring revenues, particularly those on a strong growth path.

[qs99] 20/9/2017 07:35

I agree RB, not sure that update justifies a near half billion valuation and the tone was not huge growth but "solid"....DYOR

[r ball] 20/9/2017 07:29

I thought it was all a bit down beat.

[rivaldo] 20/9/2017 07:20

Excellent results and outlook as flagged. This news is very encouraging:

"accesso Prism continues to make excellent strides and a current leading client is about to start replacing their existing Qbot estate with the new device"

along with updates that the Merlin roll-outs and the Universal introduction of Prism are going smoothly.

Plus the outlook for H2 and beyond is as good as usual.

Every reason to continue to hold imo as the story develops.

[spud] 19/9/2017 14:07

ali - If you look back on this thread, i've consistently given my yearly price targets from 2012 or thereabouts and been pretty accurate. I've also given a rationale for each with 2017 being the most recent.

spud

[ddubzy] 19/9/2017 12:46

That was me.....If only!!!Nice!

[rivaldo] 19/9/2017 12:19

Wow - nice £937,500 buy of 50,000 shares at 1875p just been reported....

[ali47fish] 19/9/2017 12:19

thank you spud what is an SB anf if you dont mind i d be interested to know how you arrtive at thse targets

[spud] 19/9/2017 11:32

Unless you have a SB, any retreat should not be of a concern. I've a price target of £21 for 2017 and a £26 target for 2018.

All imo of course.

spud

[ali47fish] 19/9/2017 10:24

HI Panic- come on don't you think it is always a good time to share some opinions- i konw that there are some good posters who are very good with this- anyway i am glad we hold the same shares- yesterdays ' question on kws was very helpful to me as i did go ahead and took a slice from some nice profits-

[panic investor] 19/9/2017 10:10

You making a habit of this chap - you posted the same on KWS ?