You are here

Prices & Quotes - UK Markets - Moonpig Group (MOON)

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 327.80p
Change Today:
-13.60p
Market Cap:
1,121.44m
Sector:
General Retailers

Recently-floated Moonpig a 'buy' for Jefferies, Citi, Numis and JPM

By Michele Maatouk

Date: Monday 15 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Analysts were out in force on Monday initiating coverage of online greeting card retailer Moonpig, which only just floated on the stock exchange, with the shares proving to be a 'buy' for all.
Jefferies, Citi and Numis started coverage of the stock at 'buy' with target prices of 510p, 550p and 500p, respectively. JPMorgan Cazenove initiated the shares at 'overweight' with a 495p price target.

Jefferies said Moonpig is "a very attractive business" with a dominant market share, a highly visible growth algorithm that should support +15% top-line progress into the medium term, a high EBITDA margin and strong cash generation. The bank said all of this merits a premium valuation.

Meanwhile, Citi noted that Moonpig is the number one market player "in the high-growth online greeting card and card-attached gifting market in the UK and the Netherlands".

It said the brand was a "first-mover" in the personalised UK online card market, and significant market spend over the last 20 years has delivered high brand awareness and a market share more than 3x its nearest competitor.

"With 12m active customers, circa 160m cumulative transactions (Oct 20) and 78% of revenue from existing customers, Moonpig Group has created a valuable pool of customer data that helps power its recommendation engine," it said.

Numis was equally flattering. "Growth has been accelerated as a result of the pandemic, an opportunity the business has seized upon," it said.

"That has been supported by an improved proposition, benefitting from the current management team's strategic focus and investment into technology. This has grown relevance in the predominantly offline card market and unlocked an opportunity to grow presence in the complementary gifting market."

It said Moonpig is a "quality operator, uniquely positioned, with plenty of headroom for growth".

Finally, JPMorgan referred to Moonpig as a Covid-19 winner with lasting benefits. "The group's scale, data pool and loyal customer base create a first-mover advantage, which acts as a barrier to entry. This, together with structural tailwinds, provides a strong foundation for double-digit sales growth, which has been further boosted by Covid-19."

JPM said a high category product gross margin - which it estimates at more than 77% - combined with an efficient card-first approach to gifting, and a significant degree of operating leverage, support the already leading EBITDA margin, and provide reinvestment opportunities. The bank expects revenues and EBITDA to broadly double year-on-year, in line with guidance.

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

 

Moonpig Group Market Data

Currency UK Pounds
Price 327.80p
Change Today -13.60p
52 Week High 488.40p
52 Week Low 285.40p
Volume 531,700
Shares Issued 342.11m
Market Cap 1,121.44m
Beta 0.97

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Income
Not Available
Growth
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
Not Available
EPS Growth
Not Available
Operating Margin
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector

Moonpig Group Dividends

No dividends found

Trades for 26-Nov-2021

Time Volume / Share Price
16:49 4,200 @ 327.80p
16:36 331,063 @ 327.80p
16:35 69,426 @ 327.80p
16:29 6 @ 325.40p
16:29 11 @ 325.20p

Moonpig Group Key Personnel

CEO Nickyl Raithatha
CFO Andy MacKinnon