Link Mobility- Innsidekjøp 15000 aksjer.
Guillaume Van Gaver, CEO of LINKMobility Group Holding ASA, on 21 June 2021
purchased 15,000 shares at a price per share of NOK 33.275.
Laveste kurs i dag siden børsnotering.
purchased 15,000 shares at a price per share of NOK 33.275.
Laveste kurs i dag siden børsnotering.
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Sveinien
07.11.2021 kl 22:59
1773
Jeg har gått inn - har troen på en mulig rekyl her. Har vist støtte på rundt 21 to ganger ila 5 dager - jeg har gått inn med snitt på 21,8. Kommer rekylen blir den morsom. Vil betegne det som noe high risk!
Gullhaugen
08.11.2021 kl 17:05
1592
ojojo 20.6 ....er det bunn? Får vi innsidekjøp nå? Selskapet er halvert på Mcap nå.
Redigert 08.11.2021 kl 17:07
Du må logge inn for å svare
Wian
08.11.2021 kl 17:19
1571
Ser det er ulike meninger om Link her og det er jo helt greit naturligvis. Vil bare legge ved innledningen til Sparebank1 Markets analyse av Link fra 04.11.21 der de gjentar kursmål på 60 kr. Så får folk velge om de bryr seg om hva disse analytikerne skriver eller ikke:
Reiterate Buy and NOK60 target price on the back of zero OpFCF changes for 2022-2024
LINK is currently down 15%, why? Our take is that this is a combination of:
1) a trailing 12m pro-forma adj.EBITDA that was down from NOK622m in 2Q21 to NOK616m in 3Q21 driven by tough comps in Message Broadcast in 2Q20 and 3Q20 (temporarily?),
2) high leverage (5x NIBD/EBITDA on pro-forma LTM),
3) M&A (add-ons, level-ups and solution companies) still being #1 priority, but larger names would required more equity we believe and
4) the fact that a 10pp share issue would take away some NOK800m in potential demand from the current NOK2.5bn overhang from the largest PE owner (Abry).
That puts the share, not the financial investment case in a tough situation. Therefore, with the 2024 aspirations intact (NOK10bn pro-forma revenues and 15-17% adj. EBITDA margin) and despite a 12% increase in our OpFCF for 2021 due to correctly inclusion of recently announced M&As, we keep our 2022-2024 estimates unchanged (which do not include M&A).
Moreover, we also reiterate our long-term investment case even though we continue to believe the share price in the short-term will be affected by the abovementioned reasons.Central to our long-term equity story include:
1) increasing exposure to CPaaS, which grows 50% perannum, 5x A2P, with +40k enterprise customers in Europe alone, which coupled with +110% net retention and underlying currency neutral growth of +15% support our 18% long-term organic growth assumptions (16% in the short-term). Moreover,
2) trailing 12m EBITDA adj. margin stand at 12%, whereas pro-forma in the same period is 13.7%, which we argue support the long-term aspiration of 15-17%. Point being, this set the stage for EBITDA adj. > revenue growth for the next 3-4 years we argue. Finally, when the working capital is consistently negative (i.e. source of funds) and capex scale with growth (can adapt capex togrowth and not the other way around), we see the current 5x pro-forma NIBD/EBITDA adj. decline to comfortable ~3x in 2022 (target below 3.5x).
The company trades at 2023 EV/OpFCF 12x and EV/OpFCF reported of 12.5x of 13.5x and our NOK60 tp. follows the same framework as you will recognize from
Crayon and equal 2024e EV/EBITDA of 15x.
Timing is not everything, but extremely difficult in LINK, which we believe post the short-term noise is a 2-3x candidate.
Reiterate Buy and NOK60 target price on the back of zero OpFCF changes for 2022-2024
LINK is currently down 15%, why? Our take is that this is a combination of:
1) a trailing 12m pro-forma adj.EBITDA that was down from NOK622m in 2Q21 to NOK616m in 3Q21 driven by tough comps in Message Broadcast in 2Q20 and 3Q20 (temporarily?),
2) high leverage (5x NIBD/EBITDA on pro-forma LTM),
3) M&A (add-ons, level-ups and solution companies) still being #1 priority, but larger names would required more equity we believe and
4) the fact that a 10pp share issue would take away some NOK800m in potential demand from the current NOK2.5bn overhang from the largest PE owner (Abry).
That puts the share, not the financial investment case in a tough situation. Therefore, with the 2024 aspirations intact (NOK10bn pro-forma revenues and 15-17% adj. EBITDA margin) and despite a 12% increase in our OpFCF for 2021 due to correctly inclusion of recently announced M&As, we keep our 2022-2024 estimates unchanged (which do not include M&A).
Moreover, we also reiterate our long-term investment case even though we continue to believe the share price in the short-term will be affected by the abovementioned reasons.Central to our long-term equity story include:
1) increasing exposure to CPaaS, which grows 50% perannum, 5x A2P, with +40k enterprise customers in Europe alone, which coupled with +110% net retention and underlying currency neutral growth of +15% support our 18% long-term organic growth assumptions (16% in the short-term). Moreover,
2) trailing 12m EBITDA adj. margin stand at 12%, whereas pro-forma in the same period is 13.7%, which we argue support the long-term aspiration of 15-17%. Point being, this set the stage for EBITDA adj. > revenue growth for the next 3-4 years we argue. Finally, when the working capital is consistently negative (i.e. source of funds) and capex scale with growth (can adapt capex togrowth and not the other way around), we see the current 5x pro-forma NIBD/EBITDA adj. decline to comfortable ~3x in 2022 (target below 3.5x).
The company trades at 2023 EV/OpFCF 12x and EV/OpFCF reported of 12.5x of 13.5x and our NOK60 tp. follows the same framework as you will recognize from
Crayon and equal 2024e EV/EBITDA of 15x.
Timing is not everything, but extremely difficult in LINK, which we believe post the short-term noise is a 2-3x candidate.
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