'Show me the money' There ain't none yet with cashflow breakeven not expected 'til 2015 (see the video presentation on Blur's website for more on this). Blur is high growth and high risk, with high reward potential e.g. 30% in the last week - certainly not an investment for anyone seeking for short-term positive cashflow !
'Show me the money'
117.96p Target Price - GECR
blur Group The World's Leading Exchange For Business Services • blur Group is an early-stage technology company that owns and operates a leading online exchange for buying and selling business services. • Used by some of the world's biggest companies, the platform offers unparalleled benefits, including significantly shortening project cycles and lowering execution costs. • We expect blur Group to see considerable growth, particularly given the significant size of its addressable market - driven by the expected ongoing global shift towards ecommerce - the lack of competition, the high barriers to entry and its ever growing market position. • Accordingly, with the shares taking a recent hit, due to the change in its revenue recognition policy, and the group stepping up its marketing efforts, we feel now presents an attractive entry point and we initiate coverage with a recommendation of buy and target price of 117.96p. • Table: Financial overview Year to 31st Dec. 2012A 2013A 2014E 2015E Revenue ($`000) 2,807 4,779 16,955 35,474 Gross profit ($`000) 728 1,165 4,133 8,646 EBITDA *($`000) (1,818) (6,371) (7,171) (3,787) EPS* (cents) (8.8) (23.1) (20.9) (10.9) Net (debt)/cash ($`000) 4,453 9,562 20,682 14,041 Source: GECR and company Target price 117.96p Key data Share Price 64.00p 52 week high/low 780.85p / 59.50p Primary exchange AIM EPIC BLUR Shares in issue 47.09m Market Cap £30.14m Sector Software & Computer Services Important: All disclaimer information can be found on the last page of the document. Please note: This publication has been commissioned by the company to which this publication relates and therefore it cannot be considered independent.
Blurred vision-still no real evidence of meaningful monetisation so until then,stay out of the water!
Almost back at where I exited - was expecting the price to drift further down from 65 - what's happened?
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