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Started: Al4x, 19 Jun 2024 09:51
Last post: skid35, 20 Jun 2024 12:04
Al4x.
Been in a while and now my largest holding at a decent level of gain now.
Well run, great secular growth, great go to market and partner strategy, cash in the bank so no out of the blue cash raises. Will be interesting to see how HPE play their holding from the Juniper takeover, and whether this is sold to Akemai as it fits in with their strategy and is peanuts.
Really happy to have bumped into this stock.
Originally found this stock in one of those garbage share news outlets. But I read it anyway and sounded actually good.
Its such a minnow trading 212 doesn't even have it listed. So I used a different service to buy it. Bought in at 13p so missed the lows. But I'm actually quite optimistic.
Lots of RNSs and progress seems good.
Hope this one pans out well!
RNS today not up here as yet.
Real steady progress here, and Akamei yet to provide the kicker as it ramps.
Look to be holding the 14.5-15.0 range now.
Sion
Started: jollyspeculator, 7 May 2024 16:00
Last post: jollyspeculator, 7 May 2024 16:00
Sold 50k@13.55p
still hold c900k
Started: jollyspeculator, 3 May 2024 14:34
Last post: skid35, 7 May 2024 08:37
Whose buying.
Why dont they just do larger trades ??
The buys keep coming too, best price on the bid today
Tbf chunky sells @12p v smaller buys doesn't inspire much st confidence
but the updates about sales traction does
Has somebody tipped it or a recommendation?
I’d agree lot of volume
Is a little weird
Started: EquityDevelopmen, 25 Apr 2024 11:55
Last post: EquityDevelopmen, 25 Apr 2024 11:55
Corero has secured $8m of orders from both existing and new customers in the first four months of FY24E. The group reported a 17% YoY growth rate in annualised recurring revenue (ARR) last year. This level of momentum in orders not only supports our double-digit % growth forecasts, but also validates the Group’s go-to-market strategy.
We are forecasting +13% growth in revenues in FY24E to $25.3m (unchanged), With gross margins high at 90%, the drop through rate of incremental revenues to earnings means that EBITDA margins should reach double digits this year. The stock is free cash flow positive with a forecast FCF margin of 6.7% in FY24E. Net cash balances will continue to grow as a function of this free cash flow growth (+33% to $6.9m in FY24E).
The share price is only just beginning to wake up to the progress made in bringing the business model to maturity, in our view. Trading at the top of its 12 months price range, the stock’s forward rating of only 2.7x EV/Sales in FY24E continues to support our fair value assessment of 14p price/share.
New research note: https://www.equitydevelopment.co.uk/research/excellent-momentum-in-new-orders
Started: jollyspeculator, 18 Apr 2024 14:23
Last post: skid35, 25 Apr 2024 09:14
As usual its a pity they dont split orders into base renewal, renewal extensions and completely new business - with the ARR impact.
Seems the Akamai service has yet to ramp so hopefully this should provide further increases in growth Q2-4.
But very positive from the very competent and focused leadership team.
Yes news on regular roll call at the moment, very positive
Another encouraging RNS this morning. The SP is on a bit of a roll at the moment. Happy days!
Jens might be keen on selling out
....or he may be keener on an enduring legacy
Probably depends on his family circs
Jolly - just you and me here !
My 250k shares just tucked away. Was going to add when the non exec did but no spare funds.
Hope for an overall rerating of small caps, dont know what the US listing will do (I did see the CEO was booked at some investor conferences in the US), strong balance sheet and no need for a raise.
I still think a possible takeover target, chicken feed for a nasdaq company and earnings accretive.
Started: Qd22, 3 Apr 2024 14:38
Last post: jollyspeculator, 15 Apr 2024 16:40
Must be so tempting to book profits @12p
...but I'm resisting (hold c900k)
Jolly,
Key factor in todays RNS is it is a rip and replace with a high $$$ value.
For this to happen the ROI of the status quo vs r&r must be low risk and with a short term return, r&r about 20 x the sales effort of an expansion - deeply impressive win.
At the last investor meet the CEO did seem to intimate CNS was selling itself short from a pricing perspective.
Business model massively leveraged so additional business flows through at a very high % to the bottom line.
Very happy to hold but would like this at least 15p in the medium term in the current c@@@ AIM and UK small cap market.
It's galling in some ways for LT believers here
valuation still lags so far behind reality that most of the gains are still available for laggards
tp is 5+ * rev ....c30p
Quoted 11.5/12.5 currently. That's a nice move upwards.
Cheers, hope you’re okay.
Still undervalued, hopefully might move a bit today.
Started: jollyspeculator, 3 Apr 2024 13:13
Last post: jollyspeculator, 3 Apr 2024 13:13
EV < 2 Rev for growing, well managed tech play in space likely to experience serious long term growth
& where ownership/management is as aligned as PE (better than VC)
dyor, all etc
Started: jollyspeculator, 7 Mar 2024 11:52
Last post: IFAze, 3 Apr 2024 11:46
Mog24, there are a few institutional investors. Gervais Williams of Premier Miton has been a fan for many years and it was his comments that first got me interested over 5 years ago.
Despite taking some profit at 13p/14p in 2021 this is now one of my largest holdings.
Institutional ownership is needed to move the share price. Unfortunately, it's too small as yet.
Few want to sell, of course
hold c750k
tp 35p++
And not much buying
what will trigger the serious re-rate?
Jolly - a little surprised this moved on this mornings rns. The non exec director putting in £100's k, the akamai deal 10 times more worthy to shift the price.
Still massively under the radar hence the lack of postings here, undervalued compared to US SaaS and appears to be very well run operationally and strategically.
Started: EquityDevelopmen, 28 Mar 2024 11:01
Last post: EquityDevelopmen, 28 Mar 2024 11:01
Carl Herberger, CEO, and Phil Richards, CFO, of Corero Network Security plc (AIM: CNS) held an Investor Presentation covering their Full Year results.
Management ran viewers through highlights of the period and progress made in 2023, with a detailed look at the investment case including the significant addressable market and Corero's competitive advantage. The team provided a financial overview, discussed strategy and outlook, and answered a range of questions from investors.
The full investor presentation has been divided into chapters, as below:
0:00:10 About Corero
0:01:32 FY23 – a year of ongoing progress
0:03:59 Investment case
0:12:23 Financial summary
0:15:44 Strategy & Outlook
0:19:49 Questions & Answers
Link: https://www.equitydevelopment.co.uk/research/corero-network-security-investor-presentation-fy23-results-march-2024
Started: EquityDevelopmen, 27 Mar 2024 07:39
Last post: meelounedu, 27 Mar 2024 09:20
For FY23, Corero delivered double digit annualised recurring revenue (‘ARR’) growth; we see this momentum continuing into FY24E and have upgraded our forecasts accordingly.
The retirement of all debt, including an inter-company loan, leaves the balance sheet ungeared and clean of FX movements which made reported margins historically volatile.
We see normalised EBITDA margins of 10%+ going forward and potentially rising further. The growth in revenues leaves the stock trading on a forward rating of only 1.8x EV/Sales. This stock has both defensive and growth qualities which should support a higher rating going forward and we reiterate our fair value of 14p price/share.
Link to new research report: https://www.equitydevelopment.co.uk/research/debt-free-with-growing-margins-we-upgrade
Started: EquityDevelopmen, 11 Mar 2024 11:23
Last post: EquityDevelopmen, 11 Mar 2024 11:23
We are pleased to host the senior management of Corero Network Security plc (AIM: CNS), a leading provider of distributed denial of service ("DDoS") protection solutions, for an Investor Presentation covering their Full Year results for the period ended 31st December 2023.
The online presentation will be hosted by Carl Herberger, Chief Executive Officer, and Phil Richards, Chief Financial Officer.
This event will take place at 10.00am on Wednesday 27th March. The webinar is open to all existing and potential shareholders, and questions can be submitted during the presentation to be addressed at the end.
You may register at the link: https://www.equitydevelopment.co.uk/news-and-events/corero-investor-presentation-27march2024
Started: TENBEAR, 22 Feb 2024 08:25
Last post: TENBEAR, 22 Feb 2024 09:19
Funds repositioning?
Husband to wife swap?
Not at £48k.
What are your thoughts on the 600k trade? I’d say a bed and isa
Started: jollyspeculator, 21 Feb 2024 15:27
Last post: jollyspeculator, 21 Feb 2024 15:27
A great offering in a fast growing segment
owner breathing down the neck of incentivised/experience CEO
NED buying
===> Rev multiple below 2 is nuts imv
tp 25p++
Started: TENBEAR, 21 Feb 2024 09:03
Last post: skid35, 21 Feb 2024 13:57
Worth reading about kentik mentioned in the blurb. I know similar other companies provide similar software but getting close to these companies or their partners a good strategy.
All the latest updates signify real progress and confidence here, taken a position and will continue to add
Started: EquityDevelopmen, 21 Feb 2024 08:13
Last post: EquityDevelopmen, 21 Feb 2024 08:13
Research note here: https://www.equitydevelopment.co.uk/research/new-partnership-supporting-growth
Corero has announced a new partnership agreement with TechEnabler, a Brazilian network solutions provider. Latin America is a relatively untapped market for Corero and this agreement should yield considerable upside as it develops. We continue to see fair value at 14p and upside risk to our current forecasts.
Kentik channel partner. TechEnabler is a Kentik channel partner and integrator headquartered in Sao Paulo, Brazil. Kentik is a US based network observability platform which visualises cloud and network traffic. Kentik enables the resolution of any troubleshooting problems many times faster than normal and helps mitigate cyber-attacks.
$1m+ booked. The partnership agreement has already generated bookings for Corero’s products and services in excess of $1m as part of its Scrubbing-as-a-Service offering.
Strong trading in FY24E. Corero recently highlighted that revenues for FY24E are to be in the region of approximately $22.3m, indicating YoY revenue growth of +11%. Corero closed last year with annualised recurring revenue (ARR) showing even stronger growth of +17% YoY to $16.9m.
Debt free. Corero is now debt free and, with a very experienced CEO Carl Herberger now onboard, it can focus on executing a growing pipeline of new business. We see plenty of capacity for upside risk to our FY24E forecasts. The business is self-sustaining and, in our view, undervalued on an EV/sales ratio of 1.8x this year.
Started: skid35, 15 Feb 2024 11:31
Last post: skid35, 15 Feb 2024 11:31
Pretty material buy there, must have a good level of confidence !
Assume open market but haven’t seen this size of deal go through.
Started: skid35, 14 Jan 2024 21:46
Last post: skid35, 22 Jan 2024 22:37
Just reading about prolexic (akamai bought for $370m ten years ago) as I couldn't quite work how it fitted in when they already had a ddos product line.
It is non competitive and adds to their product line as prolexic is cloud and not hybrid/on prem - not sure with the general move to cloud what the proportion between the two is. Really opens up another channel at very little sales cost to corero.
Https://www.akamai.com/resources/customer-story
The client base for Akamai is kike wow ....
City of Los Angles .... Yahoo ....
I was looking into this company
They announced a partner ship with Akamai
https://finance.yahoo.com/quote/AKAM/
They are massive with lots of customers, could be worth some nice revenue in time
Smaller,
No real legacy issues - it is very difficult to assess YoY a software business that is moving to SaaS but still operates a hybrid model.
- to me executing well in the market, sticks to its strategic focus areas within DDOS
- Agreement, shareholding with Juniper has been a key change but a little uncertainty creeping in with HP buying and wondering whether elements of the Juniper business are peripheral, or the loss of a key Corero champion within Juniper
- Akamai will be another real revenue step changer with little cost, great to see a couple of "material" deals already. the leverage of income virtually straight to bottom line will be the change to get the share out of the 7.50-8.50 rut.
- CEO still to make his mark. Did look at his CV on linked in - his last job is weird and concerning
- great cash balance and appears very well run operationally
- doesnt appear to have visible IR in the PI world
I thought the TU looked pretty good. I'm new to this stock but first impressions are favourable. No doubt i will find some legacy issues if I search back on this bulletin board. Hopefully these are behind the company now and there is some blue sky on the horizon.
Started: EquityDevelopmen, 17 Jan 2024 07:49
Last post: EquityDevelopmen, 17 Jan 2024 07:49
Corero’s trading update points to double digit ARR growth and a significant beat to our FY23E EBITDA forecast. We have upgraded our full year numbers to reflect this strong bottom line performance. The new Akamai partnership has already brought two new customers to the Group and we expect to see continued momentum from this route to market.
We have left our FY24E forecasts unchanged for now. but, with a new CEO, Carl Herberger, onboard and an excellent pipeline of new business, we see plenty of capacity for upside risk to our FY24E forecasts. The business is self-sustaining and, in our view, undervalued on an EV/sales ratio of 1.8x this year. We continue to see fair value at 14p, with the potential to rise.
Link to report: https://www.equitydevelopment.co.uk/research/confirmed-double-digit-growth-in-arr
Interesting to see up buying juniper.
A quick Google and I can't see HP having a ddos supplier agreement so hopefully positive, but mergers are always disruptive especially if their a few key relationships in juniper.
Looks to have a great background, clear US focus to the company now - if this was on nasdaq I think this would be valued at 2-3x the london listing.
Share options seem a little steep compared to what is offered in the UK, but this is waht the market is like in US companies - hopefully lower base and completely aligned to shareholders.
Started: jollyspeculator, 19 Oct 2023 16:08
Last post: jollyspeculator, 19 Oct 2023 16:08
Which makes sense
with rev growth returning, 5* rev looks on
tp 25p++
Funny with CNS - always a days market delay to an RNS.
As a large element of my role I actually work in the space / satellite sector - would like to know the customer but this is the future.
Another great rns extending market potential.
Very happy to hold.
Started: EquityDevelopmen, 13 Oct 2023 12:05
Last post: EquityDevelopmen, 13 Oct 2023 12:05
New content out on Corero Network Security below that's worth a look!
In a double-header, we're pleased to publish our latest note from Simon Strong on the detail & ramifications of the Akamai deal announced last month.
And in a short 4 minute interview, Ashley Stephenson (Chief Technology Officer) takes viewers through key questions around DDoS attacks and how progress Corero are making on several fronts is translating into financial success.
The video is here: https://youtu.be/Nz_NnysgKds?si=xLTgGCPIB690ucjs
Research note: https://www.equitydevelopment.co.uk/research/parsing-the-akamai-deal-cto-interview
About 4% if my quick maths is right.
Market maker has a buyer, no way they would take this risk.
Hasn't dropped the share price.
Interesting to see if this is over the disclosure levels so we see who it is.
Apart from Jens, who I can't see selling at this level, can't see who the seller might be ?
Them trades,were big?