Share Name Share Symbol Market Type Share ISIN Share Description
Kape Technologies Plc LSE:KAPE London Ordinary Share IM00BQ8NYV14 ORD USD0.0001
  Price Change % Change Share Price Shares Traded Last Trade
  4.00 2.09% 195.00 565,533 16:35:00
Bid Price Offer Price High Price Low Price Open Price
197.00 202.00 199.50 189.50 189.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
  49.81 2.11 1.06 190.6 411
Last Trade Time Trade Type Trade Size Trade Price Currency
17:00:59 O 100,000 195.00 GBX

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15/1/202120:22KAPE TECHNOLOGIES: cybersecurity for consumers2,311
02/12/201908:13KAPE canaveral rocket takes off. Heading for 220p 28

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Kape Technologies Daily Update: Kape Technologies Plc is listed in the sector of the London Stock Exchange with ticker KAPE. The last closing price for Kape Technologies was 191p.
Kape Technologies Plc has a 4 week average price of 167.75p and a 12 week average price of 152p.
The 1 year high share price is 228p while the 1 year low share price is currently 98.50p.
There are currently 210,596,993 shares in issue and the average daily traded volume is 379,250 shares. The market capitalisation of Kape Technologies Plc is £410,664,136.35.
epicsurf: Article from master investor today hxxps:// Kape Technologies is highly cash generative with 2.4m users By Mark Watson-Mitchell ;21 December 2020  4 mins. to read Today’s profile operates in a fast-growing multi-billion-dollar sector and is backed by an Israeli billionaire, writes Mark Watson-Mitchell. Readers will know by now just how much I appreciate companies with growing ARR (annual recurring revenues) – the forward strength that renewed subscription income gives any finance director is a very appealing investment merit for any such company. And today’s profiled company has an ARR of a massive 86% – I just love it! Before I start though First of all – let me ask you just three questions: Do you understand what is done with your data?  Do you have any control of the data collected from you?  Are you at all concerned over the use of your data?  Your own answers indicate the potential of this company’s business. Private sphere for each person This group considers its mission is to ensure that every individual has a private sphere, a digital room of one’s own, bringing control back to individuals in an age where privacy is controlled by a privileged few.  Based in the Isle of Man, Kape Technologies (LON:KAPE) is a cybersecurity company that is focused upon helping consumers around the world to have a better digital experience with greater protection.  Data protection and security The group is a leading ‘privacy-first’ digital security software provider focussed upon protecting consumers and their personal data as they go about their daily digital lives. The group, which develops and distributes a suite of digital security and privacy software products in the online security space, has over 2.4m paying subscribers, supported by a team of over 350 people across its eight operating locations worldwide.  Very fast-growing ‘privacy market’ Through its subscription-based platform, the company has established a highly scalable SaaS-based (software-as-a-service) operating model, geared towards capitalising on the vast and fast growing multi-billion-dollar global consumer digital privacy market. Just last week the group launched its first unified privacy and security suite to its customers. The all-in-one digital freedom, data privacy and system security suite is aimed at providing its consumers with a comprehensive protection solution required to safely navigate their life online.  The CyberGhost – Security Updater, will enable Windows users, initially, to open their devices knowing that the software installed on it is fully updated to their latest version, thereby preventing attacks on their devices due to software vulnerabilities.  Security Updater provides additional information about known vulnerabilities and their impact on the user’s security and privacy found in installed software components. The company claims that its powerful antivirus real-time protection will actively guard against any malicious attacks and viruses, as they describe it ‘a digital vaccine with a 99% efficacy’. Global operations and earnings The group’s revenue is generated largely in the US, thereafter in Europe – France, Germany and the UK – while it also derives significant income from the Netherlands, Japan, Australia and Switzerland.  Kape Technologies is viewed as having shown a track record of revenue and EBITDA growth, which is underpinned by a strong business model that leverages its digital marketing expertise. Recent $100m plus funding In late October this year the group was pleased with the very strong response to its $100m fund raising from existing institutional shareholders, a number of new blue-chip institutional investors from the UK, USA, Israel and Asia and through PrimaryBid.  That fundraise at 150p a share was significantly oversubscribed, greatly exceeding the initial target raise of $100m. The net proceeds will further strengthen the company’s balance sheet ahead of any potential acquisitions that may be contemplated.  But just who owns a 65% share? Initially there are 210,596,993 shares in issue, in addition, the group holds 10,500,726 shares in Treasury and another 1,200,000 in an Employee Benefit Trust – taking the overall total up to 222,297,719 shares issued, of which Unikmind Holdings holds 65% of the total equity. As a matter of interest Unikmind Holdings is owned by the Israeli-born billionaire Teddy Sagi.  Aged 49 this entrepreneur created, built up and AIM-floated Playtech, the world’s leading online gaming software company. Having sold down his holding he no longer holds any shares in that company.  Subsequently he built up SafeCharge, the AIM-listed online payment service provider, he sold that off in August last year.  Amongst many other investments Sagi also owns a significant global property portfolio that includes the majority of London’s Camden Market. Analysts looking for doubled revenue and tripled profit Progressive Equity Research estimates that for the year to end-December the group will score almost doubled revenue of $120.8m ($66.1m), upon which it will have made almost tripled adjusted pre-tax profits of $30.9m ($10.6m). That should see its earnings rise significantly from 6.4c to 14.2c per share. The research house expects next year’s sales to rise to $135.9m, then up to $146.8m in 2022. Profits should increase to $36.4m next year and then $40.2m in 2022, worth 15.8c and then 17.5c per share respectively. Just like me – they love the ARR It is impressed by Kape’s latest product launch, suggesting that, by combining its products in this way, the company will continue to offer a compelling end-user proposition, which in turn reduces customer churn and increases the average duration of its customer relationships. That will then drive both revenue and profit in due course. You see those Progressive Equity Research boys understand about ARR as well. Trading update in January We should see a trading update for this year in the next month.  The shares peaked in late June this year at 229p. They are now trading at around the 172p level, which is about 16 times current year and 14.5 times prospective earnings. Certainly not expensive for such envisaged profits growth. I now set an early target price of 215p.
mrnumpty: Maybe the reason for the decline in Kape’s share price over the last couple of weeks , together with today’s drop of 5.5p is to be found in this morning’s RNS . This states that 2,294,077 Ordinary Shares were issued today to four senior executives of LTMI Holdings , which was acquired by Kape on 13th December 2019 . It was agreed and stated at the time that these shared would be issued to the four senior executives of LTMI one year later , which is today . If anyone has a more in-depth comment , I would be glad to hear , but I presume that it was knowledge in the market ( or at least amongst the market makers ) that these shares were about to be issued today which has caused recent softness in the share price . Good luck all .
mrnumpty: Thanks for the replies . I tend to agree with igoe that we might soon Oh-so-surprisingly see that a large purchase has gone through , having mopped up shares on the cheap , especially now that Kape has plenty of cash available for a further purchase . There seems nothing wrong with Kape , and I don’t see any proof of any large market sell-off in general today to explain Kape’s share price drop these last few days . So , for what little it’s worth , my view is that some important people know of or suspect an announcement is coming soon and that they are using this share price weakness to buy in . A final point - as U.K. investors , it’s far too easy to think that Kape is a U.K. company , with perhaps some involvement in the US . However , last September , Kape supplied a pie chart of its market and , whilst the US accounts for almost half , the U.K. is only about 10% of sales , with the rest being accounted for by Germany , France , Switzerland etc , so Kape is very much an international company .
mrnumpty: ali . Kape has recently created a large sum of cash , both through the recent ( oversubscribed ) placing of new shares and by obtaining a commitment by a consortium of banks to lend to the Company . Tedi Sagi put more of his own money into the Company during the placing in order to maintain the percentage of the Company which he holds . Without wishing to refer to any comments which may or not have been published elsewhere , it is obvious that all of this hasn't been done for the sake of it , and that Kape now has the firepower to purchase another company . So far , Kape has been successful in integrating its new purchases ( from memory , five ? ) , so there is reason to presume that this success will continue . I have held Kape for quite some time so , although we shouldn't presume that past experience will be repeated , a look at the share price both prior to , and subsequent to , the purchase of Private Internet Access gives hope : prior to the purchase , Kape's share price had declined from about £ 1.35 ( August 2018 ) to a nadir of £0.77 on 19th November 2019 , which was the date when Kape announced the proposed takeover of PIA . The share chart shows that Kape's share price rose vertically from 19/11/2019 , to reach £1.95 . Tedi Sagi is a billionaire , but his dominating investment in Kape ( total market cap about £ 400 million ) is only worth about £ 260 million , so my assumption is that he intends Kape to become much bigger . I have absolutely no idea whether the same share price rise as occurred after the PIA purchase will happen again if or when Kape announces another purchase , but past history is encouraging . Also , all of the banks and institutions which have recently put a lot of money in to Kape have done far more due diligence than any of us here are capable of . I have great hopes for Kape , but DO YOUR OWN RESEARCH . Good luck all .
rivaldo: For the record, here's Simon Thompson's tip from yesterday: "Kape poised for re-rating ■ Oversubscribed placing and retail offer raises US$115m. ■ Trading update at upper end of earnings guidance. Kape Technologies (KAPE:170p), a provider of cyber security software, has successfully raised US$115m (£88m) in an oversubscribed placing and retail offer at 150p. The company has used US$72.5m of the proceeds to buy out the two major vendors of Colorado-based Private Internet Access (PIA), the transformational acquisition Kape completed at the end of 2019. On completion of the deal, Kape paid US$85m of the US$162m consideration in cash and issued 10.5m shares to the vendors. The company was then scheduled to settle 21m of the 28m deferred share element next month. So, to avoid a stock overhang, Kape has bought back the 10.5m shares issued and has made a cash payment to settle the deferred share element rather than issuing further shares to PIA’s vendors. There is an also additional tax-related cash benefit of US$50m over 15 years available to Kape following the change to the PIA deal structure. The remaining US$43.5m proceeds wipes out Kape’s net debt of US$25.6m and means the company is well funded to continue making selective earnings accretive acquisitions. Kape also revealed in a brief trading update that user growth in its Privacy division hit a run rate of 14 per cent annual growth during the third quarter, and customer retention rates remain strong. The board is maintaining guidance of annual revenue of between US$120m-$123m and cash profit of US$35m-$38m. On this basis, analysts at Progressive Equity Research are pencilling in full-year adjusted pre-tax profit of US$30.9m and EPS of 14.2¢, rising to US$36.4m and 15.8¢, respectively, in 2021. Closing net cash improves to US$22m and US$31m, respectively, implying the shares are rated on a cash-adjusted PE ratio of 13 for the 2021 financial year, a low rating for a company operating in a high growth industry. Kape’s shares are showing a healthy 256 per cent paper profit on the entry level in my 2017 Bargain Shares portfolio, albeit the price is well shy of the summer highs around 230p. However, with the potential stock overhang cleared, and the shares rated on an unwarranted three point discount to larger rival Avast (AVST), I can see scope for a much higher rating. From a technical perspective, look for a chart break-out above 180p. Buy."
rivaldo: N+1 Singer have a new note out - the summary is worth copying here: "Successful raise adds to firepower Kape has today announced the successful, heavily oversubscribed raise of $115.5m from a mix of new and existing shareholders. The raise has been undertaken at a share price of 150p/share representing an 2% discount to prior close, and exceeds the initially targeted raise of $100m. $72m of the proceeds will be utilised to buy-out issued and eliminate deferred shares due to legacy founders of Private Internet Access (‘PIA’) which was acquired in Nov’19. The remaining $43.5m will be held for acquisition and R&D investment. We note that PIA’s executive team (CEO, CTO and COO) who joined Kape alongside the acquisition last year are all remaining in the business, with PIA’s founders only nominally involved post acquisition. The benefits to Kape are three-fold: 1) the raise increases liquidity within the shareholder register; 2) Kape is acquiring founder shares at 145p/share, an 3% discount to the price of the raise; and 3) the beneficial tax structure created at acquisition shifts to Kape shareholders (as opposed to PIA founders) creating a c.$50m cash benefit to Kape recognised linearly over 15 years. Updated forecasts for FY’21E generate FCF of $28.2m, representing a 7% yield."
rivaldo: Good news this morning, with the fundraising "significantly oversubscribed" and at 150p, which is about the best price KAPE could have got given where the share price is now. Evidently the City has known about this being likely for some time, and the buyout was obviously the reason for the share price falling back. With this now behind the company, and likely decent demand for shares in the aftermarket following the oversubscription, perhaps we'll see a nice share price rise. Particularly as it seems acquisitions are imminent given KAPE's now huge firepower.
sev22: I thought I would share Simon Thompson's update again from the end of May just to reassure investors that Kape are a technology winner with a huge margin of safety. Aim-traded shares in Kape Technologies (KAPE:208.5p), a provider of cyber security software, have smashed through my 200p target price after doubling in value since I last suggested buying, at 100p, two months ago (‘Three buying opportunities’, 18 March 2020). I first recommended buying, at 47.9p, in my 2017 Bargain Shares portfolio, so long-term holders have more than quadrupled their money. The re-rating is fully justified as this morning's trading update highlights. Firstly, home working and remote working restrictions imposed on billions of people across the globe due to the Covid-19 pandemic has led to increased adoption of Kape’s cyber security software (which protects data security and privacy against piracy and phishing attacks). . Moreover, management report that demand for virtual private network (VPN) solutions that encrypt and secure internet connections has been rising notably in both North America and Europe, regions which account for almost three quarters of Kape’s annual revenue. Indeed, new monthly sign ups increased by 19 per cent last month within the digital privacy segment Secondly, even before the lockdown restrictions, industry experts were predicting that the digital privacy market would grow by 50 per cent by 2022, thus providing a strong tailwind to Kape’s business. It’s a safe bet to assume that growth rates will be even higher now as hundreds of millions of internet users try to protect themselves from the marked increase in cyber and phishing attacks. The data security breach of 9m online customer accounts at budget airline EasyJet (EZJ) this week highlights the need for both companies and consumers to be extra vigilant. Thirdly, there is scope for earnings upgrades driven by ongoing organic growth and by successfully marketing new products and cross selling existing ones to a significantly enlarged customer base following the acquisition of Colorado-based Private Internet Access, a leading provider of VPN solutions. Fourthly, management reiterated guidance which points to underlying pre-tax profit trebling to $31.4m, and earnings per share (EPS) almost doubling to 13.4¢ (11p). Bumper operating cash flow should cut net borrowings by 38 per cent to $20m by year-end which means a higher level of economic interest in the company for shareholders. Kape has also completed a recent debt refinancing that has reduced interest charges in half. Fifthly, the shares registered an important triple top chart break-out when they smashed through the 200p resistance level into blue sky territory. On a 2020 price/earnings (PE) ratio of 18.8, and with potential to deliver double-digit EPS growth in 2021 and beyond, I lift my target price to 275p. Buy.
mrnumpty: Small Company Share Watch tipster magazine : December 2019 edition stated , when the shares were at £ 1.48 “ Now on a prospective p/e of 12.2 the shares are D-I-R-T cheap ... It has the look of a business set to massively surprise on the upside in 2020 . Even at 200p the p/e would only be 16 . Grab it with both hands “ . Then in the February 2020 edition the magazine commented about Kape’s VPN numbers being in excess of 1.8 million “ the number is only in the foothills of what is possible for consumer IT security products ... Keep on buy list [ at £ 1.88.5 ] “ . These comments by SCSW were BEFORE the Covid crisis hit the West and which provided such a tailwind for Kape’s products . Furthermore , as has been already stated here , Simon Thompson of the Investors’ Chronicle has just rated Kape as a “ buy “ at £ 1.90 . For what it’s worth , my opinion is that the small free float of shares ( only about one-third not owned by directors or institutions ) means that the share price can be volatile . Combined with many private investors following the investing adage of “ buy on the rumour , sell on the news “ before and after last Tuesday’s announcement of half-yearly figures , these two factors explain the recent rise in the share price and the subsequent drop . At every moment with shares , we always have three options : avoid altogether ; buy ; sell . I personally suspect that it is too late to sell because the sellers will soon be cleared , and that many of those traders who sold out will start to re-enter , and that the price will then resume Its upward trend . However , don’t listen to Mr Numpty - do your own research .
xtrmntr: Interim results from Kape Technologies (KAPE:190p), a provider of cyber security software, benefited from the acquisition of Colorado-based Private Internet Access (PIA), a leading provider of virtual private network (VPN) solutions that encrypt and secure internet connections.More important than the headline grapping near doubling of Kape's revenue to US$59m was the 12 per cent increase on a proforma basis, and the eye-catching 47 per cent organic growth in the digital privacy segment, both of which highlight the strong structural growth drivers. The Covid-19 pandemic and the shift to home working are creating a favourable tailwind, too, by bringing into sharp focus concerns relating to digital privacy and security amongst consumers.The increased scale of the business – the group now has almost 2.4m customers – and a focus on reducing PIA's operating costs – synergies are now towards the top end of prior guidance – are also boosting cash profit margins (up by half to 27 per cent). A high retention rate (80 per cent) and exploiting cross-selling opportunities across an enlarged customer base – Kape enjoyed a 15 per cent take-up rate of its premium VPN product amongst new Intego antivirus users in the second quarter – are further profit drivers. These factors explain why cash profits almost trebled to US$16.4m and the directors reiterated full-year guidance (US$£35-38m on revenue of US$120-123m). Attractive cash conversion rates north of 100 per cent helped slash closing net debt by a fifth to US$25.6m and Kape is well on course to be debt free within two years.Kape's share price is 8 per cent shy of my last buy call ('Profit from Kape's chart break-out, 21 May 2020), but is still up fourfold on my entry level in my 2017 Bargain Shares portfolio. A rating of 10 times 2020 cash profit to enterprise value, a third below the rating of market leader Avast (AVST) and a 2020 forward price/earnings (PE) ratio of 15 is hardly exacting. Buy.
Kape Technologies share price data is direct from the London Stock Exchange
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