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Ann: Trading Update, page-25

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SteveSage

2,978 Posts.

1130

08/11/22

09:33

Post #: 64641875
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Originally posted by bigbillbrown: ↑

Not sure about going up in anticipation. I think it's still moving on that trading statement that showed acceleration in growth. Just have to work through the sellers that are focused more on price movements than fundamentals. (And in the case of MA Financial perhaps just rebalancing following strong move relative to the market).

The price at this stage is unsustainable at only c2x revenue, as per my post above. Smartpay has flown under the radar because of a poor listed history and then Australian growth diluted by the mature NZ business. More recently the broad equity sell off has held it back. Even with this rally, the price is only back to where it was a year ago. The Q2 trading statement back then showed quarterly acquiring revenue of only $5.9m growing at 58% YOY. Now $15.3m growing at 161% YOY. That should be a different world in terms of valuation.

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just be careful of anchor bias and thinking historical share price is a useful metric (macro economic and market conditions were very different)

also be careful of using revenue multiples for valuing companies....the market is no longer comfortable with those sort of metrics

SMP Price at posting: 82.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 95.0¢		Change -0.005(0.52%)		Mkt cap ! $229.8M

Open	High	Low	Value	Volume
95.5¢	96.8¢	94.5¢	$55.42K	57.80K

Buyers (Bids)

No.	Vol.	Price($)
1	9995	95.0¢

Sellers (Offers)

Price($)	Vol.	No.
97.0¢	16321	1

View Market Depth

No.	Vol.	Price($)
1	9995	0.950
1	7000	0.945
1	10700	0.935
1	1200	0.925
2	1800	0.920

Price($)	Vol.	No.
0.970	16321	1
1.000	9820	4
1.025	811	1
1.055	774	1
1.070	1980	1

Last trade - 16.10pm 18/09/2024 (20 minute delay)

SMP (ASX) Chart