Share Name Share Symbol Market Type Share ISIN Share Description
Taptica LSE:TAP London Ordinary Share IL0011320343 ORD NIS0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +5.50p +1.61% 346.50p 343.00p 350.00p 347.375p 341.00p 341.00p 547,105 16:27:57
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 125.9 19.6 26.3 13.2 213.01

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Date Time Title Posts
25/7/201717:02Taptica International Ltd182
04/2/201708:04TAP Oil A re-birth for the man who led Salamander Petroleum-
24/5/201223:35ADVANTAGE PROPERT INCOME TRUST yld15.6%645
25/8/200912:13Commercial property on the rise10

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Taptica Daily Update: Taptica is listed in the Media sector of the London Stock Exchange with ticker TAP. The last closing price for Taptica was 341p.
Taptica has a 4 week average price of 327.50p and a 12 week average price of 327.50p.
The 1 year high share price is 437.50p while the 1 year low share price is currently 139p.
There are currently 61,476,075 shares in issue and the average daily traded volume is 206,414 shares. The market capitalisation of Taptica is £213,014,599.88.
moneygenxyz: I found Tap through Simply Wall St. It's a brill tool for finding gems and keeping track of your portfolio and keeps your decisions in check. They are transparent with their DCF assumptions and they are basing it on the brokers forecasts I believe which we all know are conservative - here they are for TAP: "The calculations below outline how an intrinsic value for Taptica International is arrived at by discounting future cash flows to their present value. We use analyst's estimates of cash flows going forward 5 years. See our documentation to learn about this calculation. 5 year cash flow forecast Levered FCF (USD, Millions) 2017 $36.50 2018 $29.50 2019 $32.40 2020 $37.91 2021 $43.97 Source Analyst x2 until 2019 then Extrapolated @ (17%, capped from 46.57%) Extrapolated @ (16%, capped from 46.57%) Present Value Discounted (@ 8.2%) 2017 $33.72 2018 $25.18 2019 $25.55 2020 $27.62 2021 $29.61 Present value of next 5 years cash flows: $142 Terminal Value Terminal Value = FCF2021 × (1 + g) ÷ (Discount Rate – g) Terminal Value = $44 × (1 + 1.2%) ÷ (8.23% – 1.2%) Terminal value based on the Perpetuity Method where growth (g) = 1.2%: $630 Present value of terminal value: $424 Equity Value Equity Value (Total value) = Present value of next 5 years cash flows + terminal value Value = Total value / Shares Outstanding ($566 / 62) Value per share (USD): $9.17 Exchange rate USD/GBP = 0.74 Value per share (GBP): £6.79 Current discount (share price of £3.41): 50% Estimate of Discount Rate The discount rate, or required rate of return, is estimated by calculating the Cost of Equity. Discount rate = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium) Discount rate = 8.23% = 1.17% + (0.8 * 8.83%) Estimate of Bottom Up Beta The Levered Beta is the Unlevered Beta adjusted for financial leverage. It is limited to 0.8 to 2.0 (practical range for a stable firm). Levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity)) 0.615 = 0.615 (1 + (1- 21%) (0%)) Levered Beta used in calculation = 0.8 Assumptions The risk free rate of 1.17% is from the 10 year government bond rate in GB. The bottom-up beta is estimated by analysing other companies in the same industry. The Equity Risk Premium is calculated by subtracting the risk free rate from the market return premium (10%) (source: Buffet). The dividend discount model is automatically used for companies in the following industries: Banks, Insurance, Real Estate Investment Trusts (REITs), Diversified Financial Services and Capital Markets.
mount teide: With regard to share price manipulation by MM's - never underestimate their greed. I've reported to AIM Regulation: how is it possible that a situation can exist where i was offered 360p for a 1,000 dummy sell, yet there were 5 MM's on the bid between 362p and 370p for a collective 10,500 shares! As i correctly predicted at the time, shortly afterwards it was followed by a huge tree shake orchestrated by what appeared to be the activities of largely one or two MM's. My observation/experience of MM's and Nomads is that along with politicians, estate agents and second hand car dealers, it would be difficult to meet a group of more venal, self serving, deceitful, underhand, devious and unscrupulous individuals. From observing L2 over the last few weeks, it would not surprise me if two MM's here, have for some time been working together to progress a sell order for a longstanding II at a previously agreed price, probably at/close to the recent 382p large placing. That most of the order has been disposed of at an average price above the agreed sell price, so the MM/s are now in the unique position of being able to significantly drop the bid price with moderate selling to their favoured clients/friends/own account at a manufactured, self serving low price, while still keeping to the clients average agreed sell price. AIMHO/DYOR
zach9: I am staggered by so many people on this board, searching for obscure reasons for the dramatic share price fall. It is blatantly obvious, the only people that can manipulate a share price, are Market Makers. There has been no stated change in the Companies position, therefore, this is pure manipulation. Take late last evening a 30,000 buy @350p, first thing this morning on 3000 shares traded (buys & sells) the share price was marked down 7.5p, although to add to the incompetence of TAPs MMs the spread remained at 330p-350p. Sadly, I can see this share wallow around the low 300p region for some time, I also do not discount the first number starting with a 2. Hope I am wrong.
mad foetus: To be frank, I have never understood the share price here. I've never seems a share price so reluctant to move for such long periods or where the price seems out of kilter with the apparent public mood. I know the price has trebled over the last year, but it has seemed to do so reluctantly, if that makes sense. I can't see why forward looking prospects might be negative in any way: there may be bedding down from the Telaria acquisition, but the market is growing fast and I would have thought we will get bought out within a year or so. But I expected another pound in the share price by now and am genuinely baffled. Perhaps it is a warning to sell now!
eh9: MT very helpful and agreed. Tremor seemed to be growing 22%pa and had reached break even in most recent period. Plugging into Tapticas thousands of existing blue chip clients to video adds and vice versa tremors to taptica non video should accelerate revenue growth. Profitability will be delivered by growing out of more slowly growing cost base (mostly fixed) as well as consolidation synergies putting the two businesses together (e.g. Tremors San Francisco hq now seems to be tapticas usa hq).In all take tapticas top 10 ad tech capabilities and potentially double through tremor over 20 months or so. Share price could easily treble if executed well.
kcr69: Auldmart, firstly there are lots of buys and sells today, for example you can currently buy decent volumes for 380.2p, would be recorded as a sell but if you made the purchase you would know it was a buy. Please don't ever look at reported buys and sells as a means determining market activity. Secondly, only the individual who sold the stock knows why they sold, and often for very good reasons. No one can actually answer the question you asked. Thirdly, the stock has risen 2,3 4,5,6 and 7 fold over the past 18 months. Lots of reasons to take profit if you were party to any of those uplifts, particularly given that volumes are far higher currently than they were 12 months ago. Finally, excessive selling of a stock (if that were the case which it is not in the case of Taptica) has absolutely nothing to do with business performance and future share price action. Just take a look at XLM over the past couple of weeks. There are many more possible reasons but all are speculative. I hold plenty of these and am 100% confident of the short and medium term direction of the business and share price. Hope that helps while trying not to patronise.
eh9: Imo the tap upside much greater than xlm as tap has a cutting edge technology proposition and this is being applied to video through the Tremor acquisition with potential for the business to double in size over next 18 months. Share price will at least treble if tap executes well.
nurdin: Just a reminder of their 7 July trading update ..Specifically, the Company saw increasing demand from the Asia-Pacific region as Taptica continued to build its presence in the region. As a result, the Company expects to report H1 2017 revenue and adjusted EBITDA significantly ahead of the corresponding period in the prior year..... ...In the second half of the year, the Company remains confident of achieving sustained strong growth as it continues to grow through its international expansion in the Asia-Pacific region as well as other regions. As a consequence of this and the strong first half performance, the Company expects adjusted EBITDA for FY 2017 to be higher than market expectations.
rivaldo: The FD/CFO is almost always the lowest paid Board member. To sell a reasonable amount after the share price rise experienced by TAP, and particularly with TAP being so illiquid as others have pointed out, is perfectly reasonable. It's also encouraging that buyers were evidently easily found at above 300p for an unusually large tranche of shares. The share price fall is a fuss about nothing. I suspect it will be quickly reversed in stable market conditions.
dibbs: Interesting write up on TAP below, taken from III. Investec forecasting 21.1 cents for this year. I like the "Our 2017 forecasts are unchanged though now look conservative," admits Liechti" Plenty of room for upgrades if momentum continues to build further. Very happy to be holding here with very good scope for the share price to appreciate further over the coming months. It's a big day for Taptica (TAP). Floated on AIM in 2014, the Israeli firm is back above its IPO price for the first time in 18 months. Demand is driven by blockbuster first half results and a special dividend, with bosses bullish on prospects for the full-year. No wonder the shares surged by 29% Wednesday. Taptica's clever software allows advertisers like Amazon (AMZN), Disney (DIS), Facebook (FB) and Twitter (TWTR) reach the right market via mobile devices. This work helped revenue increase by 53% to $51.8 million (£39.6 million) in the six months ended 30 June. That swelled adjusted cash profit to $9.2 million from $2.8 million a year ago, and pre-tax profit sixfold to $6.85 million, giving bosses confidence to pay a one-off dividend of 5.79 cents, or 4.4p a share. We'd been told back in July that business had been better than expected, largely due to surprisingly high margins on campaigns run for clients. Gross margin rose from 26.4% to 34.4% in the six months, and chief executive Hagai Tal tells Interactive Investor he's "comfortable" to say Taptica will achieve "at least what we did in the first six months". Steve Liechti, an analyst at Investec Securities, keeps sales estimates for this year unchanged at $111 million, up from $75.8 million in 2015. But he thinks Taptica will more than double cash profit to $18.4 million, up from his previous estimate of $17.7 million, and grow underlying earnings per share from 8 cents to 21.1 cents. He'd pencilled in 20.2 cents before. "Our 2017 forecasts are unchanged though now look conservative," admits Liechti. Taptica's first half certainly vindicates a decision to target mobile advertising rather than the web, a move aided by the $17 million acquisition of AreaOne in September last year. Mobile business now accounts for 79% of revenues versus 51% in the first half of 2015. It's been a long slog, however, and the share price slumped by two-thirds last summer after the firm, then known as Marimedia, warned its decision to shift emphasis from the display business would damage revenue. "As we went into mobile, we were strong, but focusing on Tier One clients took time," Hagai Tal explained to Interactive Investor. "We've now proved ourselves and it’s easier to attract new advertisers." That includes giant US retailers, which are increasingly focused on mobile ads. "The whole market is growing, and this is just beginning," reckons Hagai Tal. "They haven’t moved all their budget yet, but understand they need to engage with potential customers on mobile. Once they see the light, they start to shift their business." Marimedia floated in May 2014, raising £29.8 million via a placing at 153p. Two months later it bought the Taptica business whose name it took the following year. After hitting a low of 57p last summer, the share price has soared from just 63p in June to a high of 165p Wednesday, a gain of 162%. At that level, the shares trade on a forward price/earnings (PE) ratio of 10.2 times, dropping to single digits based on 2017 estimates. That doesn’t sound expensive, and it's not, but the market has been reluctant to rate Taptica more highly given its track record, preferring instead to see how the transition to mobile goes. It's gone well so far, and investors are clearly happy to pay much more for the shares. As that track record improves, so too should the rating. Investec has raised its price target to 160p based on today's results, but clearly there is room for further upside if the second half goes as well as Taptica predicts. As Investec says, their forecasts could be conservative. This is an exciting business, but at these elevated levels is a 'buy on the dips' for brave investors only.
Taptica share price data is direct from the London Stock Exchange
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