The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Consider this. The annual report says that growth in customers was from 803 to 906. That's as at 31 December 2023.
The website says "Today, Cornerstone’s provides multi-currency accounts to over 1400 businesses and individual customers" That's just 5 months on.
I don't think the market is factoring in enough growth for 2024.
I think people don't get how big the potential growth runway is. They see a big increase in revenue in 2023 and adjust the price expectations to be in line with that. They haven't accounted for the new license in Canada with revenues starting hopefully in Q3, a new license in UAE imminent, the Mastercard offering beginning in Q3, potential expansion into Hong Kong (iirc) and what might come after that. There's a big world out there and the revenues we've seen are from the UK only so far. If the expansion is handled correctly, what might this company look like in 10 years?
As indeed I did
Paul’s interviews seem to have this effect on share prices. Was just sell on news yesterday so great opp to buy now
Yesterday when the results were announced I put a dummy sell in I was quoted 42.26 at 8.03 didn’t take it I wish.
Nice interview conducted by Paul Hill @CapitalPmh
https://www.voxmarkets.co.uk/articles/q-a-with-cornerstone-fs-ceo-james-hickman-cfo-judy-happe-13a4b37/
@ShoreCapital have just increased their target price to 70p/share (vs 50p B4), alongside nudging up their FY24 revenue and EBITDA estimates to £11.5m and £1.9m respectively.
Noooooo..... please don't be taken over. I want to see how far this can run on its own. Is this a unicorn in the making? Let's find out....
My sentiments exactly could not believe the drop.
A little surprising to see the drop in SP this morning after another set of excellent results, we now trade on a PE of 10 which seems a bargain given the growth trajectory and balance sheet strength. Clearly there’s M&A activity in the sector with Equal’s been in talks for months, how long until some runs the slide rule over cornerstone? With a mkt cap still only circa £20m we’d be a lovely bolt on buy , I’m holding on for 60p+ either from a takeover or the market giving us a more realistic valuation. In the meantime I for one am happy to sit and wait as the board appear to be doing a fine job of growing the business.
GLA DYOR
Great set results
S T tipped it today I believe reason 4 jump
You were saying? 👌
The trading statement is excepted to be coming around mid April. Hopefully Liquidity will increase prior to that.A bit of volume and this will hit 40p in no time. Expecting this trading update to be a cracking one. Arb
Finseta Financial Services or FFS!!!
I've just noticed that spellchecker changes Finseta to Finest!!!
Finseta sounds rubbish, like they deal in bitcoin and AI and will show up as advertising in my twitter feed.
Cornerstone sounds much classier.
For a £15m mcap AIM company? Absolutely. That's how MMs make their money.
For PIs to make money, you need either to gamble on short term movements, or hold for the medium-to-long term.
Yes, but over 11% in one day?
Just a liquidity problem I think, small sales can knock the price a lot. As far as I know there is nothing to worry about.
Nearly 13% drop in the last month and not a word here - anyone know what's going on? Or is this just normal state of affairs for CSFS?
(Alliance News) - Shares in Cornerstone FS PLC were up on Tuesday, after the company received a licence to operate a payments business from the Canadian government's financial authority.
Cornerstone is a London-based provider of cloud-based payment systems. Shares in the company were up 9.3% at 32.80 pence each in London on Tuesday morning.
This came after Cornerstone announced the receipt of a monetary services business licence from the Canadian government's financial intelligence agency. This permits the company to operate a payments company in the country and provide payment services to Canadian businesses and individuals.
Cornerstone said that receiving this regulatory licence is a step towards its goal of developing a "full-service" office in Canada, which would provide Canadians with the company's "high-touch service-led approach".
Establishing an office in the country would be a "key milestone" in expanding the company's geographic footprint, a strategy which Cornerstone said would "accelerate" its long-term growth ambitions.
Chief Executive Officer James Hickman said: "We are delighted to receive authorisation to operate in Canada. Having received enquiries in Canada for our services through our existing network, the establishment of a regulated business will enable us to fully pursue such opportunities and leverage local payment rails and lower transaction costs. This also forms part of our stated strategy to expand our geographical footprint and regulatory capabilities to deliver sustained growth for the years to come."
May see the 40.00s today
Again today
Would be good to see 40.00s....good buying