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Share Name Share Symbol Market Type Share ISIN Share Description
Shearwater Group Plc LSE:SWG London Ordinary Share GB00BKT6VH21 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -3.00 -3.26% 89.00 53,503 08:00:00
Bid Price Offer Price High Price Low Price Open Price
86.00 92.00 89.00 89.00 89.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 27.29 0.71 -0.01 21
Last Trade Time Trade Type Trade Size Trade Price Currency
14:48:37 O 1,000 89.50 GBX

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Date Time Title Posts
29/9/202208:01Scott Wilson plc1,306
28/9/202214:21Shearwater with charts etc....2,801
29/7/202222:23Expect significant upside from Ј1.50 285
13/4/202207:09Shearwater Group6
05/4/202015:48Sensible Shearwater 440

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Posted at 02/10/2022 09:20 by Shearwater Daily Update
Shearwater Group Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker SWG. The last closing price for Shearwater was 92p.
Shearwater Group Plc has a 4 week average price of 89p and a 12 week average price of 89p.
The 1 year high share price is 152.50p while the 1 year low share price is currently 72.50p.
There are currently 23,818,059 shares in issue and the average daily traded volume is 16,604 shares. The market capitalisation of Shearwater Group Plc is £21,198,072.51.
Posted at 02/9/2022 15:50 by chrisdgb
Irritating share price action.....
Posted at 15/8/2022 13:50 by rivaldo
Yep, good to see in SCSW's "Updates and Ideas" section - your post 2776 was very timely :o)) Hopefully a few more investors will now be aware of SWG, and SCSW will now presumably continue to feature SWG after future contract wins, trading updates etc.
Posted at 28/7/2022 20:56 by zico01
We already about the results ,a really solid statement on the outlook is needed to get the share price motoring ahead. Lets hope the company delivers.
Posted at 25/7/2022 19:11 by tole Group – final results due this Friday could well beat expectations yet againShearwaterThe question is could we strike a small vein of gold with this group?This company was formerly known as Aurum Mining, but in 2017 changed its name to the Shearwater Group (LON:SWG).Later this week it will be reporting its final results for the year to end March and the hope is that the cyber security group will be beating market expectations yet again.The BusinessThe company's full service offering spans identity and access management and data security, cybersecurity solutions and managed security services, as well as security governance, risk and compliance.Through a focused 'buy-to-build' approach, the group has a growth strategy that is focused upon building a scalable group offering an entire spectrum of cyber security and managed security needs.It serves customers in some 46 countries across the globe, across a broad spectrum of industries.Operation SegmentsThe group operates through two main segments – Software (13.6% of group sales) and Services (86.4% of group sales) – it has five primary businesses, Brookcourt Solutions, GeoLang, Pentest, SecurEnvoy and Xcina Consulting.Brookcourt Solutions delivers cyber security, network monitoring technologies and managed security services to help secure and protect an organisation's critical infrastructure. GeoLang delivers data discovery, data extraction and data loss prevention solutions, services and technologies to discover, classify and protect sensitive data and information in the cloud and on-premise.Pentest provides research-led penetration testing, red teaming, and offensive security consultancy services designed to uncover IT security vulnerabilities, support ongoing information security efforts, and to increase the digital resilience of client organisations.SecurEnvoy provide trusted identity and access management solutions to millions of users in real-time. Across five continents, its customers benefit from rapid deployments that scale through instant provision, simplicity of use and ease of management.Xcina Consulting provides business and technology risk assurance and advisory services in support of organisational resilience.On sales per region basis the UK makes up some 73.7% of sales, Europe 21.6%, North America 3.7% and the Rest of the World just 1%.The EquityThere are 23.82m shares in issue.The larger holders include Schroder Investment Management (13.2%), Secarma Group (12.3%), Phil Higgins, CEO, (9.31%), D Stacey (8.83%), David Williams, Chmn, (6.80%), Killik & Co (3.98%), S Watts (3.75%), SpreadEx (1.11%), Robin Southwell, NExec, (0.65%) and Stephen Ball, NExec, (0.50%).It is interesting to note that the second largest holder in the group's equity is Secarma Group Ltd, the Manchester-based cybersecurity consultancy.Year End Trading Update – "the potential for our business is evident"In late April the group issued its Year End Trading Update and provided revenue guidance for the financial year ended 31 March 2022.Following a strong second half of trading, the group stated that it expected to report revenue up some 12% to over £35.5m (£31.8m).It guided that adjusted EBITDA could be in excess of £4.2m (£3.7m).The revenue growth came from a mix of strong renewals from long term clients, in addition to a number of significant new contract wins in the group's Services division.With the Update the group's CEO Phil Higgins stated that:"I am delighted to report a strong performance for the group, with both revenue and Adjusted EBITDA growth anticipated to be ahead of expectations. Our long-standing clients have continued to extend their business with us, a testament to the strength of our offering, and we have also won work with new customers looking to fortify their organisational resilience in today's uncertain world.We have returned to a revenue growth trajectory, underpinned by a strong financial position, and we remain excited for what the future holds."While Chairman David Williams said that:"It is pleasing to see group wide efforts paying off with the delivery of another set of market-beating numbers. The potential for our business is evident."Broker's View – 200p 'fair value'Simon Strong, analyst at Cenkos Securities, rated the group's shares as a Buy, with a 'fair value' of 200p a share.His estimate for the last year was £35.5m sales and an adjusted EBITDA of £4.2m (£3.7m) giving an adjusted earnings per share figure of 11.8p (10.4p).Looking into the current year his figures are for £37.4m revenues and an EBITDA of £4.8m, worth 13.7p in earnings.Analysts Ian Robertson and Gareth Evans at Progressive Equity Research look for adjusted EBITDA earnings of 11.9p for last year and 14.1p for this year.My View – short-term opportunityI would believe that both companies will be revisiting their current year estimates after this week's finals statement.My first Profile on the group was at the start of Covid-19, a period that subsequently saw the shares fall away before the start of the Ukraine war hit them back even further, with 70p its lowest at the start of March.The way that the shares have responded to the End Year Update is a pointer to further good news boosting them even higher.It will take some motoring to get anywhere near my first Target Price, but my most recent aim should be achieved within days.I see them reacting well to this Friday's good news and subsequent analyst upgrades.The shares closed at 139p on Friday night, which I consider offers short-term punters a quick opportunity.
Posted at 24/6/2022 10:59 by zico01
Good write up in Investors Chronicle : Shearwater is a UK-based corporate resilience business offering cyber security software (own IP) and services operating across 46 countries with many large businesses (including tier 1 banks) as clients. Revenues total around £35mn, with historic (adjusted) earnings before interest, tax, depreciation and amortisation (Ebitda) of a little over £4mn forecast to grow at a compound annual growth rate (CAGR) of 20 per cent to March 2025, reflecting strong markets, cross-selling opportunities and a planned phase of new investment. The software side has a typical structure, with high margins (>75 per cent gross ), selling through a two-tier distribution model, meaning low sales and distribution costs in-house. It owns the intellectual property (IP) for its two software brands SecurEnvoy (zero trust identity and access management) and GeoLang (tools that discover, classify and protect sensitive data and information across a range of storage locations and mechanisms). There is high recurring revenue here (>80 per cent) and >60 per cent of customers have contracts of three years or more. Having spent the past two to three years wrestling with Covid-19 and various internal issues plus eliminating its historic debt, Shearwater is now in a position to expand in software by acquisition and/or investing in research and development organically. Its focus is the remaining quarter of the $40bn (£32.6bn)-plus security-as-a-service market not already covered (privileged access, cloud access and identity governance), a sector overall forecast to grow at a c16 per cent CAGR. Shearwater has £10mn in cash and untapped debt facilities to facilitate this, and buying well (management is happy to buy early-stage businesses) could bump baseline profits by as much as 50 per cent. The services arm is larger by revenue (four to five times larger than software), but with lower margins (still a healthy 30 per cent gross) makes a similar level of Ebitda, giving the business a healthy balance. In services, a lot of revenue comes from selling third-party products and IP (hardware and software) in solution sets for core cyber security functions and monitoring plus consulting fees and the group’s in-house penetration testing – trusted hacking to show network vulnerabilities. Good underlying market-driven growth augmented by anticipated investment mean that the 20 per cent growth being forecast here is tangible. Yet, the rating does not square with the prospects (specific and industry) – Shearwater’s enterprise value (EV)/sales ratio is just 0.65, the EV/Ebitda is less than 5 times and the price/earnings (PE) ratio is just 8.8 times year one. This is closer to the valuation you might expect for a mature cyclical rather than a high-growth industry. Darktrace’s equivalent figures are 4.8, 37 and >300, respectively. Valuing Shearwater on sensible but still cautious ratios (1.8x sales, 12x Ebitda or a PE of 18) indicates a fair value as high as 250p (currently 118p). While this is a long stretch, must still be viewed through an appropriate risk lens and may prove out of reach, it does indicate that the current share price is likely to be materially overpricing risk, lingering too much on historic negative total shareholder returns (TSR) and underpricing potential, especially from fresh investment."
Posted at 27/4/2022 09:01 by boadicea
I think it is time to forget the history and look to the future. There are peer companies showing rather pedestrian progress which, even after recent falls, are on ratings double or more that of SWG, albeit with a generally more stable past. This is a volatile sector and a change of sentiment can double (or halve) a share price in a short space of time. SWG started the year with the buyer's advantage of excessively low expectations built in and is only just starting on its process of re-rating. Steady progress of the type now being reported could easily double it from here within a year or so (imho) with more to follow if it begins to sparkle.
Posted at 13/4/2022 11:54 by jbravo2
The directors don't care as long as they're getting their wad?The CEO owns 2.25m shares. He earns under 200k for this role. I doubt he's so short sighted as to not give a toss about the share price.The chairman owns over 1.5m shares. He bought another chunk just under £1. I doubt he doesn't care about the share price.I think the only question can be about ability, not lack of motivation
Posted at 29/3/2022 18:28 by earwacks
Which comic do you read Lightening Rod? 'Placing at £4.00 2 years ago.' I presume you mean the one at £2.40 in which both Higgins and Williams bought a lot of shares. Thy have also maxed out their families ISAs and made substantial purchases around the £1.00 area. I dont know why the market has turned so negative on cybersecurity. EBITDA should be similar to last year when the share price hit £2.20 . Both Boris and Biden have been urging companies to bolster their internet security which is supposed to be a multi billion industry. Both SWG and IGP offer very specific services to high quality companies. They both have a very low share count and have seen their PE ratios drop by a half. Companies are not in the habit of releasing RNS just to boost share prices. They have financial calendars they tend to stick to. What happens with investors in-between results is not under their control. I'm sure its been another difficult year with the pandemic and war. As the chair of SUS commented this morning on their results : ' In times scarred by the global pandemic, looming environmental disaster and now a war in Ukraine, anyone claiming to see the future with any certainty risks appearing a charlatan or a fool. Hence, without possessing any supernatural powers of foresight, I am at least pleased to see that my prediction last year of "a return to S&U's habitual levels of success" in 2021 has indeed now come to pass…
Posted at 18/3/2022 07:43 by rivaldo
Cenkos have issued an update note this morning, reiterating their Buy and 200p+ target price. They've left forecasts unchanged at 11.4p EPS and 13.8p EPS for the years just ending and starting - and they note that the $4.1m contract win "provides some possible upside to our visibility estimate". In summary: "Significant contract win Shearwater has secured a $4.1m contract with an existing customer to implement a new zero-day attack prevention system. After a significant proof of value process and demonstrable RoI by Shearwater, this new solution will effectively replace an incumbent solution of a well-known vendor. We continue to see fair value at 200p+." "Fair value lies at 200p+. Good delivery this year to date is at odds with the current share price. A rating of sub-4x EV/adj EBITDA in FY22E is anomalous and fair value for such a business with a cash positive balance sheet in our opinion lies in excess of 100% of the current share price. Buy."
Posted at 21/8/2021 15:21 by boozey
I hold SWG and work in the cyber industry, I see the issue as being that the company is short of assets, is too consulting led and has a mixed history. Consulting carries relatively small margin and those margins are being eroded as cyber staff cost ever more to recruit and keep. There is a chronic shortage of staff both on the sales and delivery side and attrition is at unprecedented levels. Any acquisition by SWG should be an asset they can resell at good margin and help the company grow more progressively. Also on the SOC side (the managed service operations business which is recurring revenue), this market is mature and saturated now and customers are in addition increasingly looking to AI solutions to predict threats at an earlier stage more cost-effectively. This will likely replace the SOC in coming times. So this brings into question the SWG cyber strategy for the future. I would imagine these reasons weigh on the share price as a blend of low growth, reduced margins and erosion of their managed service business don't bode well. The much anticipated acquisition needs to address these issues and focus on SWG's next generation cyber strategy and be earnings enhancing. As noted by earwacks above in the context of Kape's acquisition, you can see how the right acquisition can cause the share price to explode. Whether the management team at SWG, who I know, have the wherewithal to match that is somewhat in doubt, but the risk-reward profile at the moment makes it a hold as a bit of a punt. The company have had a chequered history. On a more positive note the cyber security industry is very fragmanted as a relative new industry and so consolidation is a distinct possibility and is actively taking place and this could make Shearwater a target - witness last month's acquisition of Nettitude, an industry leader and the cyber arm of Lloyds Register, by Goldman Sachs Asset management no less. Goldman know what they are doing and will want to grow that business to sell it on. More importantly it puts the spotlight on the Cyber Security industry as a whole.
Shearwater share price data is direct from the London Stock Exchange
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