Altitude Share Discussion Threads

[sweenoid] 16/2/2023 07:57

A ‘growth fund’ decreases its holdings after the update?
Mmmmmmmm,
That’s logical 😂😉
I gave up giving my money to muppets to invest on my behalf many many years ago

S

[northwards] 15/2/2023 13:39

A bit of gut tbh. Will need another beat expectations ... which I think will come at some point this year.

[allstar4eva] 15/2/2023 13:07

What is 5p-60p based on?

[robbnw] 15/2/2023 04:41

Well achievable I'd hope

[robbnw] 15/2/2023 04:40

I'm talking eventually not immediately

[northwards] 14/2/2023 20:26

I think 50-60 this year is realistic.

[seangwhite] 14/2/2023 20:10

100p is a high target and would need an approach from a US buyer to get to that sort of share price level.

[robbnw] 14/2/2023 17:50

Here here stars

[robbnw] 14/2/2023 17:50

At least 100 plus I reckon

[steveberyl] 14/2/2023 13:57

3 Mths price Doubles; Cool.

[robbnw] 14/2/2023 13:37

agreedBut the name of the game is honest steady smashing of targets

[northwards] 14/2/2023 13:04

Reckon we will now start to attract take over interest ... a business model & tech that is delivering.

[robbnw] 14/2/2023 11:08

And at last a Zeus upgrade to over 50 pNo reason now we won't continue to upwards I've said it before and I will say it again This board of David Smith , Nikki S, Peter H , Martin V and Graham are quite the best we have ever had A board in harmony A board United on the end game Consistent growth Great workWell done to them all Way to go !!!

[seangwhite] 14/2/2023 10:09

It's funny seeing a tech stock actually making money being valued on a low P.E.Maybe real tech growth companies can be profitable.

[sweenoid] 14/2/2023 10:08

I agree Zeus has issued a statement based on their current ‘belief’ that revenues will be 4.8% higher than the previous guesstimate, given the tone of the statement from Altitude that’s very conservative upgrade, which is of course super because it seems likely that in 6-7 weeks we will get another upgrade based on the trading in February and March and the £v$ tailwind ( not to be underestimated ).

Momentum is an intangible in a share price, the company AND its share price now have that, the shares are tightly held and thinly traded in low volumes and this actually adds to my excitement as when it takes off as it has today it can get ‘heady’ 🙂.

S

[allstar4eva] 14/2/2023 09:44

Huge growth + operational gearing and cashflow - the holy grail. Dreams of 500p+ can resume ??

[rivaldo] 14/2/2023 08:37

Agreed - a good policy by Zeus, always better to underpromise and overdeliver.

Zeus conclude:

"Valuation: Based on Zeus forecasts, Altitude trades on an EV/Sales multiple of 1.3x FY23, compared to an average FY1 EV/Sales of 2.0x for our broad set of UK small-cap software and services peers. Applying this average EV/Sales multiple to FY23 gives Altitude a valuation of 49.8p per share. Our DCF analysis provides a 52.0p per share valuation estimate and our discounted medium-term valuation estimate increases from 52.6p to 53.6p due to the unwind of discount. Our average estimate is now 51.8p, 54.6% upside to last night’s closing price."

They summarise today's update:

"Upgrading again

Altitude has released another positive trading update where results for the year to
31 March 2023 are anticipated to be materially ahead of current market expectations (revenue: £16.5m, adj. EBITDA: £1.5m). The Group has continued to expand its Services and Merchanting programmes, showing good underlying momentum, and has benefitted from a strong US dollar leading to greater earnings in GBP terms. As a result, Zeus upgrade FY23 revenue by 4.8% to £17.3m and adj.EBITDA by 17.2% to £1.7m. The US promotional product space remains strong, which is helpful, but Altitude continues to materially outperform the market. With its investment in Merchanting to date, a strong pipeline of opportunities, and expanded banking facilities, we believe the Group is well placed to maintain revenue growth momentum. Operational gearing should provide substantial drop through to earnings, as evidenced by today’s c. 36% increase to FY23 adj. EPS."

[northwards] 14/2/2023 08:18

Zeus upgrade FY23 revenue by 4.8% to £17.3m and adj. EBITDA by 17.2% to £1.7m. I think they are being conservative in order to upgrade again for the end year trading update at end March.

[stars309] 14/2/2023 08:11

As I said last yearTop line closer to 20m As expected Move to 50p and beyond ALT is flying now

[babbler] 14/2/2023 08:05

Sorry that short just be hurting today.

[sweenoid] 14/2/2023 07:48

That update was the most positive update I have ever seen in 30 years of investing.

It signals a significant ‘beat’ on expectations , it is positive in tone and it expands the increase in business not only to the end of CY 23 but also into CY 24, that’s BULLISH. It is reasonably obvious that Altitude are now becoming a cash machine and the CEO has already signalled that margins are increasing, the increased credit facility gives scope for acquisition where appropriate which will further drive revenue and profit.

50p in the short- medium term is my target ( minimum) then when results are released later in the year and we get the full picture a March to £1.

Remember the vast majority of our revenue is in $ and there is a 15% tailwind for nearly all of 2022 and this is likely to continue throughout the entirety of 2023.

Splendid

S

[onjohn] 14/2/2023 07:36

Nonprofit then

[babbler] 14/2/2023 07:27

External market consensus for the year ending 31 March 2023 is currently revenue of GBP16.5 million and adjusted EBITDA of GBP1.5 million.And they are "Materially ahead" of that.

[babbler] 14/2/2023 07:26

Yes there are.

[onjohn] 14/2/2023 07:25

No numbers in statement