Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 211.40p
Change Today:
-2.00p
Market Cap:
1,162.70m
Sector:
Support Services

Network International says not aware of any reason for share price slump

By Michele Maatouk

Date: Monday 21 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Payments processor Network International said on Monday that it is not aware of any reason for the slump in its share price.
Shares in the Dubai-based company were down 26% to 96.90p at 1005 BST.

"The company is not aware of any reason to justify the move and is pleased to report that the trend of improving volumes in directly acquired domestic TPV, reported for July with our interim results, has continued in August and early September," it said in a brief statement.

Broker Peel Hunt said in a note that the recent share price performance has left many investors wondering what they have missed.

"Having spoken to the company, we are confident that the recent collapse has not been triggered by any fundamental factors," it said. "We believe that the current share price provides an extremely attractive entry point for an investor looking to gain exposure to the leading player in industry that is likely to be a long-term beneficiary of Covid-19."

Peel said the shares appear "materially oversold" and the valuation appears attractive. It reiterated its 'buy' rating and 480p price target on the stock.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

NETW Market Data

Currency UK Pounds
Price 211.40p
Change Today -2.00p
52 Week High 650.00p
52 Week Low 205.40p
Volume 58,653
Shares Issued 550.00m
Market Cap 1,162.70m

Performance Indicators

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Price Trend
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Income
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Dividend Yield
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EPS Growth
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Operating Margin
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NETW Dividends

No dividends found

Trades for 30-Oct-2020

Time Volume / Share Price
08:12 11 @ 211.40p
08:10 189 @ 212.20p
08:10 804 @ 212.20p
08:10 41 @ 212.20p
08:09 100 @ 212.20p

NETW Key Personnel

Chair Ron Kalifa
CEO Simon Haslam