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Looking forward to next Tuesday. With airports added to the leisure mix I can see this back over £20 within a year. Very nice patch of green on a mostly red day for my portfolio.
Shore Capital and Peel Hunt both say Buy:
Https://www.proactiveinvestors.co.uk/companies/news/959762/accesso-technology-forecast-upgrade-prompts-12-jump-in-the-share-price-brokers-impressed-959762.html
"accesso Technology forecast upgrade prompts 12% jump in the share price; brokers impressed
“We view accesso as well-positioned to capture the growing e-commerce and digital solution trends,” said Shore Capital in a note to clients
accesso Technology Group PLC’s unscheduled profit and revenue upgrade has been greeted with 12% jump in the share price.
The revelation that trading at the electronic ticketing and queueing solutions group is now at pre-pandemic levels also sparked a flurry of positive broker coverage.
“We view accesso as well-positioned to capture the growing e-commerce and digital solution trends,” said Shore Capital in a note to clients.
“It has a growing global client base and a diversified offering that collectively can address consumer/ business demand across leisure, entertainment, and cultural markets.”
Shore repeated its ‘buy’ recommendation, pointing out the shares are currently trading at an attractive discount to the wider software-as-a-service industry.
Peel Hunt also repeated its ‘buy’ advice in the wake of accesso’s update.
It said: “As previously flagged, accesso is taking advantage of this newfound interest in its technology solutions and is deploying additional resources across implementation, development, and customer support.”
Earlier, accesso raised its 2021 revenue forecast to at least US$117mln, representing a full recovery to 2019 trading levels.
In a statement ahead of its interims next week, the ticketing and virtual queuing specialist said cash earnings (EBITDA) will be “significantly ahead of current market expectations” for the half-year and 12-month period.
“The group is currently deploying additional resources across technology implementation, product development and customer support to calibrate for the new demand,” investors were told.
“As previously signalled, these investments will have a limited impact on cash EBITDA in 2021; their full annualised effect will be felt in the 2022 financial year.”
accesso said through July, August and the Labor Day holiday period it had built on its “excellent first-half performance and continued to capture high demand for its technology solutions”."
Features on accesso tend to focus on theme parks but they have developed market-leading queueing/ticketing technology for theatres, museums, sports arenas and airports too.
There's much more to come here and much of it is repeatable revenue as the solutions offered drive client sales...
45% up since I bought less than 3 months ago!
See my previous updates on "Brilliant Steve Brown interview". It's a long video but worth the watch as it convinced me to top up a few times. He's an exceptional leader.
https://youtu.be/1k_6Sbq6sfs
I remember this being £20 plus and we have grown since then. Okay well we had a bad spot with an elderly american ex disney ceo but have the main man back now!
Another huge revenue upgrade today - July's update raised revenue expectations to over $100m, and today's update raises them again to over $117m.
And this will result in "Cash EBITDA being significantly ahead of current market expectations for both the half and the full year"......
Lovely stuff:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Trading-Update/86001183
I wonder if, with all the UK tech stocks that are being snapped up cheap by US private equity, good stocks like this one will start to get priced closer to if it was an American tech stock
UK market seems to undervalue growth stocks
There's been a 20% rise in under 2 weeks as investors are waking up to the potential with accesso technology. US ii's Long Path Partners have built their stake to 13.29% of all shares so have understood the vision, probably having met Steve Brown on a number of occasions.
I'm still expecting further gains up to and around the H1 results on Sept 14th. Simply Wall Street has fair value set as 1229p.
accesso is a conviction buy for me and it's great to see such a positive climb in the last few days.
As per this week's RNS, the interim results for the six months ended 30 June 2021 will be released on Tuesday 14 September 2021. We're still coming cautiously out of covid restrictions so some numbers will be down but there should be lots of positives too. I'm hoping to hear more about the expansion of queuing management at airports. That could be huge.
I wish I'd seen it last year as shares were 270p last July and are 600p+ now.
I finally got around to watching the whole of an in-depth interview yesterday and was so so impressed by Steve Brown and have topped up again this morning. I really recommend the interview to anyone invested or interested in accesso as you get to know more about Steve's character, how he got to top, how the shares dropped 80% after he left, why accesso bought complementary companies etc etc. It was interesting for him to be interviewed by Theme Park experts rather than just the same old finance faces. He combines entrepreneurial spirit, energy, inspirational qualities, in-depth specialist knowledge etc. Naturally the interview focused on Theme Park Attractions but accesso are moving into management of Airport queuing in a big way and the market there is enormous. I'll leave you with this quote from Steve: "The number 1 reason that people don't go to Theme Parks is “I don’t like waiting in line. Number 2 is how much it costs. Always in that order. If you can address the number 1 objection consumers have to doing something why would you not address it?”
https://www.youtube.com/watch?v=1k_6Sbq6sfs&list=LL&index=1
Positive Simply Wall Street article...
https://simplywall.st/stocks/gb/software/aim-acso/accesso-technology-group-shares/news/analysts-just-made-a-substantial-upgrade-to-their-accesso-te
The trading statement from 18th May had plenty of caveats. These seem to be very much GONE now. Great. This could rise like a cork now.
I'm pretty new to accesso so my research is still ongoing. Here's an in-depth interview with the CEO, Steve Brown. This is from last year but gives a good idea of Steve's knowledge and ambition for the company.
https://www.youtube.com/watch?v=1k_6Sbq6sfs
Added another £3k because these will surely rise as more and more use is made of their technology. Bargain price imv just now.
PEEL HUNT RAISES ACCESSO TECHNOLOGY TO 'BUY' ('ADD') - TARGET 699 (678) PENCE
Agreed, all very positive and the potential market for safer and more convenient scheduled queuing at airports looks very promising as we start to travel more in the current complex environment.
92% of shares are owned by institutional investors and many of them have been increasing their holdings recently. Fair Value on Simply Wall Street is 1210p.
The prior trading statement said revenues would be comfortably more than $83m this year, so this is a major upgrade to more than $100m - and with six months still to go this could be increased further:
"accesso is pleased to report that since its AGM trading statement on 18 May 2021, the Group has continued to benefit from pent-up customer demand and the accelerating trend towards online commerce in its end markets. The Group has seen operators' need to manage capacity boost its online reservation activity, and its virtual queueing solutions have seen demand well beyond historic levels. This has resulted in year-to-date revenues in 2021 significantly ahead of expectations.
"As a result, in the absence of major new impacts from the pandemic, the Board now expects full year revenue for 2021 to be in excess of $100m.
Alongside this strong current trading, the Group's confidence in its future growth trajectory is also bolstered by a significant uptick in demand from potential customers who are looking to introduce technology upgrades as part of their pandemic recovery initiatives."
I just topped up again as I think the wait-time-reducing trial will be a big success in the 2 airports and the potential is for it to be used in thousands.
"Airports, and the vendors partnering with them on the trials, say the deployments are geared toward making the airport experience less stressful for flyers. Virtual queuing could also reduce crowding as Covid-19 continues to be a concern. And passengers who are no longer physically waiting in line have more time to visit restaurants and shops, boosting airport concessionaire revenues."
https://www.phocuswire.com/airports-test-virtual-queuing-for-security-checkpoints
"Long Path Partners is a privately-owned investment firm that seeks to compound capital by investing in a limited number of high quality, predictable businesses that we intend to own for the long term. "
New RNS late in the day: Long Path Partners appear have been buying and have increased their holding from 8.4% to 10.4% :-)
According to the Airports Council International (ACI) World Airport Traffic Report, there are currently 17,678 commercial airports in the world, in other words those which receive airliners, cargo and business aircraft.
"Logan Airport officials declined to comment on how the pilot program is going, but Accesso Technology Group, Logan's virtual queuing technology partner, said that in a recent survey of users of the solution, 96% said that the virtual line helped make traveling less stressful."
https://www.travelweekly.com/Travel-News/Airline-News/Airports-test-virtual-queuing-security-checkpoints
Can anyone explain what are the the consequences of the recent RNS and does it involve any share dilution?
ACSO have partnered with Boston Logan International Airport to pilot virtual queueing - their first entry into the airline industry....
Https://www.prnewswire.com/news-releases/boston-logan-international-airport-pilots-virtual-security-line-powered-by-accesso-301305105.html
Extracts:
"Boston Logan International Airport Pilots Virtual Security Line Powered by accesso®
U.S. Airport Harnesses the Power of Virtual Queuing to Enhance Passenger Safety Amid COVID-19
ORLANDO, Fla., June 3, 2021 /PRNewswire/ -- accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider for attractions and venues worldwide, has partnered with Boston Logan International Airport to pilot a Virtual Security Line. This partnership marks accesso's first foray into service of the airline industry and positions Boston Logan International Airport as a pioneer in adoption of technology that is proving vital to enhancing customer safety, trust and loyalty while adhering to pandemic-related protocols.
A trial implementation of the Virtual Security Line – powered by accesso's intuitive Qsmart(SM) virtual queuing platform – was launched in April 2021 and is running, initially, for an eight-week span, supporting the airport and its passengers, as well as the team members that manage on-site operations, as market forecasting points to an increase in air travel due to pent-up demand and continued progress is made on administration of COVID-19 vaccinations.
Passengers at Boston Logan International Airport currently have the safety-driven convenience of navigating the airport's security line with the use of virtual queuing – a technology formerly exclusive to the leisure and entertainment industry, but one that has quickly been adopted by a variety of industries. Today, operators of nearly all backgrounds are seeking out new, innovative ways to effectively maintain physical distancing measures while laying the foundation for a positive consumer experience....
....Passengers preparing to enter the Virtual Security Line at Boston Logan International Airport can do so seamlessly with the Qsmart platform directly from their mobile device (no mobile app download required) – removing yet another potential point of physical contact – to "check in" to the line. A countdown will allow passengers to see their remaining wait time and they will be notified in the browser session when it's their turn to enter the line; at the line's entrance, airport staff conduct a contactless scan of the QR code on the passenger's mobile device to redeem their place in line.
Without the need to configure additional hardware, Qsmart boasts a rapid implementation time, making the process easy for airport staff, as well. Additionally, Qsmart allows staff to reduce traffic inconsistencies and, instead, forecast and achieve a steady, manageable flow of arriving passengers. The elasticity of this process is more important than ever in the continued age of physical distanci