Crossrider Share Discussion Threads

[yasrub] 10/1/2018 09:31

Interesting do we think the overhang has cleared ?

[battlebus2] 09/1/2018 21:57

Good to see u here modform, we should know shortly how we are progressing 🤞

[modform] 09/1/2018 20:27

Well, I had been adding around 66p due to cheap valuation, but to be honest I don't like the business model, I hope it won't turn out to be a value trap.Nice to see so many knowledgeable investors on board here

[funkmasterp12] 09/1/2018 13:35

Looking good! Mentioned above but good to see familiar names here (PJ1, Battlebus, GHF, Rivaldo etc)

We must have similar screens lads!

[battlebus2] 09/1/2018 13:05

LOL i thought that was your nickname :))

[pj 1] 09/1/2018 13:02

Maybe it needs to re-name to SlowRider

[qs99] 09/1/2018 13:02

Am in for some more....AISHAH do you mind me asking what else Techinvest was tipping please? No problems if not. Thanks

[aishah] 09/1/2018 12:57

Loaded up yesterday as it's one on Techinvest's 2018 tips. "Crossrider trades on a modest free cash flow yield of 4.5%, which we feel is a compelling valuation"

[che7win] 09/1/2018 12:44

Nice to see these on the move finally

[battlebus2] 09/1/2018 12:35

Maybe about to move with buying at 69p now :))

[rivaldo] 09/1/2018 12:31

I bought a few of these at around 66p and might top up when cash becomes available. Encouraging to see so many respected names already here!

[dibbs] 06/1/2018 00:07

I've held TAP for a long time and have been lucky enough to profit very nicely from their continued success making other plays in this area of interest to me. When Apple launched iOS 11 much of the sector seemed to be knocked as investors feared Apple would kill the cookie and impact upon the whole Ad Tech sector. TAP were quite clear that this would not impact upon them.

CROS looks an interesting play with an attractive valuation and plenty of cash to back it up. A load of names I respect posting here adds further interest. Have CROS commented on if cookie deletion will impact upon them or not?

Cheers

Dibbs

[cheshire man] 04/1/2018 13:45

Surprised the share price has not reacted more positively to all this buying

[battlebus2] 04/1/2018 07:26

Update in January last year so maybe one soon?

[funkmasterp12] 04/1/2018 07:15

Took a small position here yesterday. GHF - thank you for the post below, it certainly helped crystallise my own learnings! Nice to see some familiar names here too.Target for me is 20% - so just shy of the IC peak.

[wanttowin] 03/1/2018 15:47

Brilliant post again GHF, thank you.

[glasshalfull] 02/1/2018 19:12

Added heavily today.

I’d top sliced quite a few following the Simon Thomson, Investors Chronicle surge in September & essentially was fortunate to buy them back today 20% cheaper. Highlights the drift in many small cap companies in the absence of news.

Spent a number of hours reviewing the company over the weekend and watching the excellent PI World presentation from mid-October.

As mentioned, the shares have fallen by (-20%) since early October 2017. This is despite the fact the company agreed to a recorded presentation which was bullish in content and outlook & also initiated a Capital Markets Day in the intervening period. Not something undertaken lightly if a precursor to any bad news.

The CEO also confirmed in an RNS 5-weeks ago that CyberGhost was,

“...now fully integrated and performing ahead of expectations” as noted by mfhmfh.



So - IMHO - I believe risk/reward now markedly improved as an investment @ c.65.5p

To recap, at the current share price: -

Market Cap £92.3m
Net Cash $60.87m or £50.6m (at 30.06.2017) or 55% of the Market Cap
Enterprise Value £41.6m

The company is generating cash with Shore forecasting $5.4m FCF in 2017, increasing to $7.1m this year which equates to a FCF yield of 5.9%.

Earnings are also forecast to grow strongly over the next few years. This could accelerate if they are able to deploy their significant cash balance on suitable acquisition(s).

Adjusted diluted EPS(c)

2016A 2.9c
2017F 3.9c (+34%)
2018F 5.1c (+31%)
2019F 5.9c (+16%)

With cyber-security such a hot-topic the cash adjusted PER of 9 appears excellent value IMHO.

Shore commented in Sept 2017,

“...Crossrider’s interims results demonstrate momentum in the ongoing business post a transformational 2016, with adjusted cash from operations growing 95% on an underlying basis.

The CyberGhost acquisition is performing ahead of expectations, offering early proof of concept for Crossrider’s distribution capabilities with new products.

We leave our full year forecasts largely unchanged at this time, with increased visibility on earnings given the underlying performance the first half and the H2 weighting of the Media businesses. Crossrider trades on an ex-cash PE of 9.4 x and a FCF yield of 4.5%, a compelling valuation in our view.”

Kind regards,
GHF

[mfhmfh] 21/11/2017 09:24

part of today's statement:

'With CyberGhost now fully integrated and performing ahead of expectations, we can capitalise on the sizeable market opportunity.'

[wanttowin] 16/11/2017 20:37

market doesn't seem to like it, back to 60?

[tomps2] 16/11/2017 09:42

Video of the investor presentation by £CROS CEO: Ido Erlichman 25.10.17

Length: 30 mins



Background & introduction 00.18
The opportunity – 01:34
Market drivers – 02:40
Core software products – 04:16
Positioning in the Personal Security Market – 07:52
Optimising users - 09:02
Highlights: H1 – 13:39
CyberGhost acquisition – 15:27
KPIs - 18:13
Strategic priorities – 20:19
Financial highlights – 21:45
Revenue analysis – 22:33
Key growth drivers – 23:12
Summary – 24:43

Q&A
Is there a seasonal bias? – 26:11
Is a dividend likely in the future? – 26:49
With Cyber Ghost, what is your differentiating factor? 27:39
Is IoT useful to drive concerns amongst a new consumer base or are there new products you can develop in this area? 28:50

[horndean eagle] 26/10/2017 09:34

Apologies in that case. Not really seen any buying today so perhaps not really left much of an impression it seems. Ive met Ido a couple of times. He is a pretty impressive chap so surprised by the lack of interest post event. Hopefully have better luck at capital markets day.

[tomps2] 21/10/2017 09:35

HE you add a whole new complexity to organising these events – that the companies themselves should have a connection!

Honestly, I am the organiser of the event at piworld … CROS & MGR were arranged completely independently, (at the time not knowing the other companies presenting).

[horndean eagle] 20/10/2017 21:14

Miton are a holder of CROS so I think Gervais and CROS appearing isn't a total co-incidence

[martinthebrave] 20/10/2017 19:18

Tomps2 Thank you for clarifying. I must have noted it down wrongly. Can't make the presentation but I will watch it on piworld.co.uk!

[tomps2] 20/10/2017 18:32

BTW MTB - I don't believe Gervais Williams is going to 'feature' CROS in his Wednesday presentation, although yes, he is presenting, at the piworld / Progressive Equity Research / MHP event.

It is Crossrider's CEO & CFO who are presenting at the same event on Wednesday.

Space is limited, but if you want to attend, get in touch with piworld.co.uk and we'll see what we can do.