Share Name Share Symbol Market Type Share ISIN Share Description
Wandisco LSE:WAND London Ordinary Share JE00B6Y3DV84 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  +4.00p +1.00% 404.00p 118,214 11:25:17
Bid Price Offer Price High Price Low Price Open Price
398.00p 407.00p 412.00p 395.00p 405.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 14.54 -10.37 26.65 14.4 171.4

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Date Time Title Posts
16/11/201817:47WANdisco - Will it be magic?3,909
25/7/201811:16WANdisco (WAND) One to Watch -
12/8/201512:00WAND WANDisco Charts-
13/2/201514:27Start Of The Next Bounce3
23/12/201419:41Could this company become BIG in the world of BIG data? #WAND [PODCAST]-

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Wandisco Daily Update: Wandisco is listed in the Software & Computer Services sector of the London Stock Exchange with ticker WAND. The last closing price for Wandisco was 400p.
Wandisco has a 4 week average price of 351p and a 12 week average price of 351p.
The 1 year high share price is 1,255p while the 1 year low share price is currently 351p.
There are currently 42,435,621 shares in issue and the average daily traded volume is 101,873 shares. The market capitalisation of Wandisco is £171,439,908.84.
tickboo: Decent interviews, I'm sure the major shareholders have told them to firstly hit FY forecasts and get on the offensive to get the share price out of the downtrend. That is a material deal but I doubt we'll hear of any sub $500,000 deals being announced as they are nit deemed material but they are the recurring deals ($100-$200,000) they are now going after. If IBM get one of their bit ticker deals it will likely be announced early Jan which has been the case in the past. Hopefully Wand are closing multiple deals as they need to in order to achieve the oustanding $6m which was needed from June 30 (CFO said they already had circa $10m to be realised in H2). I'd like to buy another 5,000 to take me to 67,500 but I don't have the funds at the moment. I like KtoKP's post which, being long, I agree with and think worth re-posting. Wand trade at 4x Bookings( probably actually lower than that) Ceo CTO and CFO are buying stock IBM oem relationship is doubling down on JV spend. IBM have made a huge bet in Hybrid cloud with RHT MSFT co sell is likley to convert to OEM MSFT revenues likley to be announced this CY Core share holder base havnt sold despite the biggest rout in Tech for several years and a huge drain in liquidity in small and mid cap. Company has cash to execute beyond 2019. These are the facts as I see them ..
aishah: WANdisco’s $1m application lifecycle management (ALM) deal with a leading Chinese tech company will add support to our FY18 forecasts, although big data/cloud deals remain key to driving the inflection. The recent retrenchment in the share price appears to be discounting a miss, but we continue to believe that achieving the required inflection in H2 could be a watershed for the perception of this business’s growth fundamentals. hTtps://
knighttokingprawn: Just signalling ... DR owns a chunk of the company ... I see CFO dipped his toe in again ... ... general market woes the big issue here .. this will pass .. but would not read much into Wand price action or level.. it’s part of macro now I suspect ..
gorilla36: Appalling timing from these people, really clueless! One has to wonder how that particular meeting went...."mmmm ok, share price has halved in three months, lets give away a shed load of freebies (10P) to the directors". Sends the wrong signal completely. By all means give them freebies but tie it to the share price in 2/3 years time.
tickboo: Agreed. Worth reading the Edison note in its entirety but re the valuation -WANdisco's rating stands at 14x FY18e EV/sales, dropping to 11x for FY19e. This is a premium to peers (a diverse range from c 2x to 11x), although the recent share price fall has narrowed the premium substantially. WANdisco's investment case has always been predicated on the potential for it to scale into a significantly larger, highly profitable business. We believe that progress in H2 should provide a watershed moment for these credentials.Our DCF suggests the current share price requires sustained bookings growth of c 30% (ie a similar rate to FY18 and FY19) through 2025 with EBITDAC margins growing to over 25%. In practice, we believe that if WANdisco continues to strengthen its platform of tier one channel partners, it should be well placed to grow faster than this. Most of the company's partners are growing their cloud revenues at significantly faster rates. With a broad addressable market, a strong IP position and an indirect sales model, healthy 30%+ margins should be readily achievable if execution remains good, although we expect the emphasis to remain on growth over margins in the near to medium term. The company's potential strategic attractiveness should also not be ignored.
knighttokingprawn: 6 months round trip! Q4 last year Wand traded north of £8 and then announced a cash raise which was promptly filled at £5.50.. post the raise the stock regained the £8 level... then came the new vacuum.. and then cane the the big buyers Swedes and an apparent US buyer ... liquidity and speculation in a vacuum helped by the two big guys saw us at a high of £12.50...the speculation on this board seem now to be that the numbers will be a disappointment... certainly the RNS on Blockchain was ugly and seemed to confirm that WAND had nothing really new to say about current business but plenty to say about what might happen! To be honest I would say the move from £12.5 to here is more of a buyers strike than a sell off .. and the volumes are light ... I would venture to suggest that whatever prompted are two recent buyers to buy from here and higher has not gone away .. I suspect that asymmetry of information flow is at play here and think WAND could be criticised for adding to volatility of the share price with its strategy around news flow ... on balance I think the risk reward suggests that we don’t see a journey to £5.5 post the report and that here or around here is the new floor ... I base this on the assumption that wand is in a better position than when it raised money at £5.50 and that is confirmed by the emergence of new ownership subsequently aT £8 and higher in recent months .. but IR need to get there act together as institutional money cannot live with this type of volatility for very long...
tickboo: GitHub is certainly winning at the moment but that can change as aside from the people using/contributing to it they don't have a USP. Who's to say another provider might become in vogue, albeit it will take time for people to switch over. Point is they don't have a USP like wand have and one that seems very difficult to come near to. So 15x revenue seems a lot and tells me Wand should be valued at a higher multiple. A convoluted way to say that and being long I would wouldn't I?! My hope is that wand have a good H1 and a stonking H2 that more than doubles (preferably trebles) FY big days revenue and bookings even more so. The market wants to see the forward orders too and then Wand will continue to get higher and I don't see why they won't be even 750m market cap come YE. Sting that if H1 disappoints (this is clearly not priced in) the share price will fall a fair whack before I imagine recovering.
tickboo: Whilst there are a fair sells going in I thought I'd report the Edison (paid for) report -The announcement of an OEM partnership with Chinese internet giant Alibaba adds a significant new channel for growth. Alibaba is the sixth largest cloud platform globally and revenues doubled in Q4 to $553m ($2.2bn annual run rate). WANdisco Fusion will be embedded as a standard component in selected Alibaba cloud solutions. The press comment from Alibaba cites the migration to cloud, disaster recovery and hybrid cloud enablement as the use cases underpinning the partnership, highlighting the broad applicability of Fusion. We understand that the technical integration is close to completion and we expect the companies to start building a commercial pipeline with immediate effect, with first deal flow likely in H2.WANdisco's EV/sales rating of 17.1x and 13.4x for FY18 and FY19 respectively remains a premium to peers, although upgrades have narrowed the premium substantially. WANdisco's investment case has always been predicated on the potential for it to scale into a significantly larger, highly profitable business.Our DCF suggests the current share price requires sustained bookings growth of c 35% (ie a touch higher than forecast for FY18 and FY19) through 2025 with EBITDAC margins growing to exceed 25%. In practice, we believe that if WANdisco continues to strengthen its platform of tier one channel partners, it should be well placed to grow faster than this. Most of the company's partners are growing their cloud revenues at a faster rate. With a broad addressable market, a strong IP position and an indirect sales model, healthy 25%+ margins should be readily achievable if execution remains good, although we expect the emphasis to remain on growth over margins in the near to medium term.The market opportunity in cloud is very significant. The migration of enterprise data to the cloud is the largest structural shift taking place in the enterprise technology market today. Q4 results from the major cloud service providers indicated that this trend is accelerating, with Synergy Research Group estimating that spend on cloud infrastructure services jumped 46% y-o-y, comfortably beating the growth rates achieved in the previous three quarters. Market leader Amazon AWS's revenues exceeded $5bn for the first time in Q4 with growth accelerating to $45% y-o-y; Microsoft grew Azure revenues by a staggering 98% y-o-y and Alibaba doubled cloud revenues in Q4 to $553m and has ambitious plans to move up the rankings and take market share.The company's potential strategic attractiveness should also not be ignored. We are seeing M&A from industry majors as they build out their cloud/hybrid strategies – most recently with Microsoft buying Avere Systems, a high-performance storage vendor for an undisclosed amount. We believe that WANdisco could potentially be a good fit for a number of cloud/enterprise software players.
tickboo: Thanks Knighttokingprawn, I received the note this morning. Re the management sells and the drifting share price it said - For us, the share price fall was emblematic that WANdisco is caught in that ‘AIM illiquidity’ trap – by this, a small number of shares drift on to the market, in weak conditions they create downward price pressure as traders ‘find’ the buyer. This in turn, encourages other folks, maybe distressed, to sell and (hey presto) a self-fulfilling, self-created, downward price spiral occurs. At the same time, WANdisco faced an operational imperative to hire, given the opportunities pipeline. As we have seen, first hand, the new account onboarding team at WANdisco, we appreciate that the company has been stretched in its resources. While WANdisco was caught between the proverbial ‘rock and a hard place’, supporting investors got a very good deal. In addition, as management sold shares in order to ensure that this qualified as a UK deal, with less than 50% of shares held in the US, management had to sell down in order to expedite the deal – they ended as double losers.
tickboo: Wh Ireland's note is some 32 pages so a little below. WANdisco divides opinion: to its fans, it is a unique business addressing the problem of real-time data replication at a global/petabyte scale that only it can solve and as such is almost priceless; to its detractors, it's the classic Emperor's New Clothes, a business built on hype that is destined to disappoint. A string of material contract wins in the US this year has, in our view, tipped the balance firmly in favour of the former and, as a result, the shares have been one of the best performers in the sector (+244% YTD). Difficult to value by conventional techniques, WAND is a true momentum stock. Key to continued share price appreciation is further contract wins and forecast upgrades through, what is proving to be, a highly effective and established channel strategy. Our blended DCF-based valuation model suggests fair value for the stock of 950p hence we initiate with a BUY recommendation.In a nutshell WANdisco has developed IP that enables data to be simultaneously replicated and changed in real time, and at scale (peta/ exabytes) across a wide area network. In this regard, we believe it to be unique. The solution lends itself to global enterprise, where large scale data migration or continuous data replication across storage platforms/ infrastructures is required, with cloud storage (moving data in and out) a key underlying driver – think Amazon Web Services (AWS) which has witnessed a 58% CAGR in revenue over 3 years. Adoption of cloud or hybrid cloud storage by large-scale organisations is now mainstream, with data increasingly seen as mission critical, with respect to commerciality, and part of the fabric or DNA of an organisation.Where is the business at? WANdisco has built a highly impressive partner and client list; Cash burn has been substantially reduced (H1 2017 outflow of $0.6m versus $5.3m last year); the business is motoring ahead (H1 rev +71% y-o-y) and the contract pipeline is robust. In April, WANdisco signed a $4m contract with an un-named North American financial institution and this was followed up smartly in June by a further $2m contract with a US-based global retailer. In our view, there are many more contracts of this scale in the hopper. The contracts are beginning to evidence the effectiveness of the partner ecosystem which is key to building momentum beyond our conservatively set estimates. To aid understanding of what an upgrade cycle might look like, our note contains a modelled upside scenario on page 22.How should investors value WANdisco? We are naturally wary of using new paradigm terminology yet the business is difficult to value on any peer group derived valuation. These are still early days so any DCF valuation is highly sensitive to some very subjective assumptions with high error bars. Nonetheless, using a blended DCF (attempting to capture near-term upgrade potential and the anticipated long-term market opportunity), we arrive at a 12-month valuation of 950p, potentially much higher if WANdisco can continue the momentum of client wins into H2. A report produced by Cisco references a total addressable market for big data and cloud spend of $10bn by 2020, representing a CAGR of 35% (Fig 4). Although this rate of growth might, ordinarily, be treated with some scepticism, revenue, for example, at Amazon's Web Services division has grown at a compound rate of 58% (to $12bn in 2016) over the last three years (Fig 5). Coupled with industry reports from IDC and Gartner, multi-national companies have now begun to embrace the cloud, and as such, the patented real-time data replication tools offered with WANdisco Fusion find themselves in a unique market position as large enterprises struggle with a dual problem of a ballooning data storage and processing requirement and the now critical and central nature of data within an organisation.Routes to market – established, evidenced and critical to scalable successWANdisco has made substantial progress utilising a combination of direct, channel and OEM relationships (all non-exclusive and with tier 1 vendors) including no less than IBM. With key strategic names on the call sheet, but with some infilling and channel strengthening work to do, early indications are of a 'go to market' strategy that can deliver new customers in volume.Deals flow and customer base vindicates the core technologyIn a relatively short period, IBM has delivered two multi-million dollar contracts with Fortune 500 companies, and both are expected to grow further in size (initial contracts for a small subset of data). This follows similar deals announced with Oracle and through Amazon. It's also important to understand that Fusion's big data and cloud replication tools are not restricted to one vertical market, having been sold so far into global automotive, banking, retail and healthcare clients. Our research has also encapsulated other data replication infrastructure solution providers, and evidence suggests that all are benefiting from a structural shift that is taking place in how data is captured, stored and analysed. However, WANdisco believe that Fusion is the only product that will address the needs of global enterprise where large scale, high volume and simultaneous data replication across multiple data points (nodes) is demanded, and the global resilience of such an architecture is required.Valuation – 2018 is likely to see the commencement of a meaningful upgrade cycleWANdisco's shares, in our view, have already priced in at least one upgrade over and above the $1m or so signalled at September's interim results. For some, that might be a little premature, and set against our (prudently set) estimates, makes the shares look very expensive on traditional metrics (FY2017E: 24x EV/sales).Whilst it is appropriate to consider the status quo, we believe it is also informative to consider a valuation set against an upgrade scenario (Figs 44 and 49). In our view, given the increasing evidence of 'right product, right time, right channel', and set against the evidence of other specialist infrastructure and data integration providers serving the cloud market, WANdisco looks increasingly able to deliver enhanced growth, particularly by 2019/20, where traction with partners should truly manifest.We have run two DCF models, one off our published estimates (FV: 665p), and a second off WHI's upside scenario (FV: 1235p). Given our increasing confidence that risk is towards upside, the first evidence of which is likely to be 2018E, we place an equal weighting between the two outcomes and derive a (12 month) 950p target price. What does WANdisco do?WANdisco stands for Wide Area Network Distributed Computing.In 2005, WANdisco developed and launched a proprietary and patented technology that sits at the heart of its commercial product (now branded WANdisco Fusion) called the Distributed Coordinated Engine (DConE).DConE changes the way servers and local area networks (LANs) interact over a wide area network (WAN). Essentially, the engine enables geographically distributed servers and storage networks to stay in a continuously synchronised live state (aka active data replication), with LAN-speed performance over a WAN, while maintaining one-copy equivalence of the data across a distributed system (i.e. all locations hold identical data sets). The distributed nature ensures that there can be no single point of failure, and removes scalability bottlenecks. Further, DConE was designed to be independent of the underlying application thus can ultimately be used as the foundation for the distribution of any application or database.The technology therefore allows large or multinational entities to real time replicate continuously changing data, to multiple cloud and/or on-premises data centres, with guaranteed consistency, and without downtime and the resultant business disruption often associated with batch based replication technologies.WANdisco's Fusion was released in 2015. It represented the culmination of over a decade of software development (which continues with significant R&D commitment), following the launch of the DConE into the niche market of version control (for SCM vendors) in 2005, and subsequent expansion into the Hadoop market in 2012.Fusion, as illustrated in Figure 1, now serves the company's two markets of Source Code Management (direct sales) and the much bigger opportunity of Big Data and Cloud storage and replication (direct/ channel/ OEM). The Fusion product is also behind WANdisco's first non-exclusive OEM agreement with IBM, badged IBM Replicate.
Wandisco share price data is direct from the London Stock Exchange
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