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Update: Goldman Sachs have now raised their price to 570. And in paragraph 3) I meant to type "2020" rather than 2012".
I have just bought a lot of Just Eat shares because: 1) The JP Morgan analysts says investors should go "overweight" - i.e. invest a greater than equal proportion of their portfolio into Just Eat. They expected it to reach 500 soon, but following the results issued a few days ago they have now increased the price to 630. 2) Cannacord Genuity values the price at 570 after the latest company results, up from 515 previously. 3) Goldman Sachs thinks the price will reach 560 by December with a "blue sky" price of 1200. It says they are market leader in twelve countries with profits in them rising as they become established, and that they will also benefit as online penetration in them increases. They expect an average compound annual growth increase for each year up to 2012 of 25%pa in sales and 41%pa in EBITDA. The business is highly cash generative with low capital requirements. 4) Citigroup gives a price of 550. 5) Jeffries expects a price of 515. 6) Barclays Capital also thinks investors should go overweight, and forecast a price of 500. 7) The trend in the analyst's revised valuations are all upwards from their previous valuations. 8) The results issued on the 4th. are extremely good, with number of active users up 59%, orders up 52%, revenue up 54%, profits up 62%, and earnings per share up 41%. 9) Articles in the Financial Times suggest they are just beginning to grow, and have an intelligent strategy of choosing the best countries to enter one by one rather than trying to expand globally all at once and overtrading. 10) It appears to me that they are currently investing their revenues on further expansion and growth rather than merely leaving them as profit. So in my opinion once they start to mature (with proportionately less money invested into expansion and growth) then their profits will climb even higher, and reaping the increasing earnings due to both the expansion into other markets and the growth in those markets will rapidly reduce the PE ratio. With earnings growth of 54% it won't take long. 11) A RNS announcement has just been issued saying that Old Mutual Plc has bought 6% of Just Eat. Old Mutual have been going since 1845, so they ought to know what they are doing. 12) They are clearly a vigorous and ambitious growth company who are being very successful.
Good one for the spread betting fraternity!!
Something similar was said on this board when the price was in the £2 area. Look what happened then. There will be warnings eventually, what company is immune? But you can make decent money until that happens. NOT a share to tuck away.
This company is grossly overvalued along with various other tech based service providing stocks... Despite the 50% rise in turnover, Pre-tax profit is at £9.4m, a 300 P/E ratio and management forecasting growth stabilising at 15%. Projecting 15% growth compounded (and applying that same ratio to the profit figures) it would take 22 years of revenue and profit growth at 15% to come close to a respectable P/E ratio of 15. Once the management start issuing some profit and growth warnings, this stock won't be long halving!
Figures out today. Wow. Strong turnover growth. Strong profit growth. Strong growth plans. Strong management commitment. JUST BUY. JUST BUY. JUST BUY.
24 Jul 2015 Just Eat JE. Canaccord Genuity Buy 453.75 438.70 - 560.00 Reiterates 560p SP Target......
Technically seems we have a seller taking advantage of the spike this morning, but alls on track for the next level of resistance and the high for the stock. http://content.screencast.com/users/thomaser/folders/Default/media/820fd702-c32f-4d50-ba56-664001d520fe/je.%202.jpg
It expects the group's first-half results on 4 August to show that orders grew 42% year-on-year.
JPMorgan Cazenove moved to an 'overweight' stance and introduced a 550p price target on the stock, saying the takeaway food website was its top pick in the European online space. Following a period during under which it was unable to publish a rating, the bank said it had integrated the acquisition of Australia's Menulog into its estimates for the company, which lifted its 2016 EBITDA forecast by 20%. JPM sees several potential catalysts for the stock. It expects the group's first-half results on 4 August to show that orders grew 42% year-on-year. The bank pointed to the possibility of further M&A. "In our view, even in-fill M&A would show management active in consolidating positions and continuing to support long-term growth, and therefore is likely to be well received by the market."
It forecasts a 2014-20 compound annual growth rate of 25% in sales and 41% in earnings before interest, tax, depreciation and amortisation.
Just Eat gets a lift as Goldman Sachs reinstates 'buy' rating Wed 15 July updated Mon 20 July 2015 11:18 | A A A (ShareCast News) - Goldman Sachs reinstated its 'buy' rating on Just Eat and added the shares to its Conviction List, with a 560p price target. It said that in addition to rapid growth potential as more takeaway food is ordered online, network effects and platform scalability should drive strong profitability as established markets mature and losses decline in other markets. "The business is highly cash generative, with low capital requirements and negative working capital," said GS. "As market leader in 12 of its 15 countries, Just Eat should benefit as online penetration increases." It forecasts a 2014-20 compound annual growth rate of 25% in sales and 41% in earnings before interest, tax, depreciation and amortisation. Goldman sees recently acquired Australia/New Zealand as a key catalyst for improving profitability and expect its EBITDA margin to reach current UK levels in 2017 from 9% currently. Key risks to the investment case include disruptive action by competitors, market share losses, and lower-than-expected penetration of internet ordering.
<b>Goldman Sachs reckons savvy investors could make another 28% profit.</b>
Goldman Sachs..... Clearly, Just Eat needs an impressive tech offering to distinguish it from the pack, but as cheaper smartphones become available across the world, mobile is set to become its most important channel. In 2014, UK mobile traffic increased 61%, with orders jumping by 58%. The business generates a lot of cash - the £58 million expected in 2015 should grow to £135 million in 2017 - which will be important for investment in this area, although it is likely to go on a buying spree.
JE. Just Eat Goldman Sachs .....EPS is then set to bounce by 175% in 2016 and 60% in 2017
<b>Just Eat PLC Receives Conviction-Buy Rating from Goldman Sachs (JE) Posted on July 15, 2015, updated July 20th, 2015 by Robert Jamerson in Analyst Articles - UK, Investing</b> Goldman Sachs restated their conviction-buy rating on shares of Just Eat PLC (LON:JE) in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a GBX 560 ($8.68) price target on the stock. Goldman Sachs has also taken action a number of other stocks recently. The firm downgraded shares of Vodafone Group Plc from a buy rating to a neutral rating. Also, Goldman Sachs upgraded shares of Prudential Public Limited Company from a buy rating to a conviction-buy rating. Finally, Goldman Sachs reiterated its hold rating on shares of GoPro Inc. Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Just Eat PLC in a research note on Monday. They set an overweight rating and a GBX 550 ($8.53) price target on the stock. Analysts at Barclays reiterated an overweight rating and set a GBX 500 ($7.75) price target on shares of Just Eat PLC in a research note on Thursday, July 9th. Analysts at Jefferies Group reiterated a buy rating and set a GBX 515 ($7.98) price target on shares of Just Eat PLC in a research note on Wednesday, July 8th. Analysts at Canaccord Genuity reiterated a buy rating on shares of Just Eat PLC in a research note on Friday, June 26th. Finally, analysts at Peel Hunt reiterated a hold rating on shares of Just Eat PLC in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Just Eat PLC has a consensus rating of Buy and an average target price of GBX 497.43 ($7.71). Shares of Just Eat PLC (LON:JE) opened at 418.00 on Wednesday. Just Eat PLC has a 1-year low of GBX 200.10 and a 1-year high of GBX 524.50. The stock has a 50-day moving average of GBX 422.78 and a 200-day moving average of GBX 397.89. JUST EAT plc is a United Kingdom-based company that operates online market place for restaurant delivery. The Company operates in 13 countries around the globe, including Belgium, Brazil, Canada, Denmark, France, India, Ireland, the Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom. It has over 40,800 takeaway restaurants which uses technology platform to offer on-line ordering service. As of 2013, the Company processed over 40 million orders and generated 700 million pounds. The Company also provides JUST EAT mobile application.
<b>JPMorgan Chase & Co. Begins Coverage on Just Eat PLC (JE) Posted by K Gore on Jul 14th, 2015, updated Jul 19th</b> Just Eat PLC logoJPMorgan Chase & Co. started coverage on shares of Just Eat PLC (LON:JE) in a research report sent to investors on Monday morning, AnalystRatings.NET reports. The firm issued an overweight rating and a GBX 550 ($8.53) price target on the stock. JPMorgan Chase & Co. has also taken action a number of other stocks recently. The firm downgraded shares of STMicroelectronics NV from a neutral rating to an underweight rating. Also, JPMorgan Chase & Co. reiterated its buy rating on shares of Goldcorp Inc.. Finally, JPMorgan Chase & Co. reiterated its hold rating on shares of Pan American Silver Corp.. Shares of Just Eat PLC (LON:JE) opened at 418.00 on Monday. Just Eat PLC has a one year low of GBX 200.10 and a one year high of GBX 524.50. The stock’s 50-day moving average is GBX 422.78 and its 200-day moving average is GBX 397.89. JE has been the subject of a number of other recent research reports. Analysts at Barclays reiterated an overweight rating and set a GBX 500 ($7.75) price target on shares of Just Eat PLC in a research note on Thursday, July 9th. Analysts at Jefferies Group reiterated a buy rating and set a GBX 515 ($7.98) price target on shares of Just Eat PLC in a research note on Wednesday, July 8th. Analysts at Canaccord Genuity reiterated a buy rating on shares of Just Eat PLC in a research note on Friday, June 26th. Analysts at Peel Hunt reiterated a hold rating on shares of Just Eat PLC in a research note on Thursday, May 21st. Finally, analysts at Citigroup Inc. raised their price target on shares of Just Eat PLC from GBX 515 ($7.98) to GBX 550 ($8.53) and gave the company a buy rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of GBX 482.43 ($7.48). JUST EAT plc is a United Kingdom-based company that operates online market place for restaurant delivery. The Company operates in 13 countries around the globe, including Belgium, Brazil, Canada, Denmark, France, India, Ireland, the Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom. It has over 40,800 takeaway restaurants which uses technology platform to offer on-line ordering service. As of 2013, the Company processed over 40 million orders and generated 700 million pounds. The Company also provides JUST EAT mobile application.
Just Eat broker views Date Broker Rec. Price Old target price New target price Notes 15 Jul 15 JP Morgan Cazenove Overweight 437.90 - 550.00 Resumes 15 Jul 15 Goldman Sachs Conviction Buy 437.90 - 560.00 Resumes 09 Jul 15 Barclays Capital Overweight 437.90 500.00 500.00 Reiterates 08 Jul 15 Jefferies International Buy 437.90 515.00 515.00 Reiterates 05 Jun 15 Canaccord Genuity Buy 437.90 - - 13 May 15 Citigroup Buy 437.90 550.00 550.00 Reiterates
<b>Share of the week: Buyers tuck into Just Eat By Harriet Mann | Fri, 17th July 2015 - 17:17</b> Investors craved Just Eat (JE.) this week and the fast-food delivery company, which floated in April last year, is one of the biggest risers on the FTSE 350. The shares have more than doubled over the last year and are way above their 260p IPO price. A flurry of broker attention triggered the 8% five-day surge and Goldman Sachs reckons savvy investors could make another 28% profit. Just Eat leads the way in 12 of the 15 countries it operates in, which can only benefit the group as more people opt to order takeaways online. As the industry matures, Goldman is confident the group's network effects and platform scalability will drive strong profitability. It's why the shares have been added to its conviction buy list. Last year's impressive cash profit margin of 40% in the UK & Denmark should help plug the losses in other markets, with group margin set to more than double to 44% in 2017. Clearly, Just Eat needs an impressive tech offering to distinguish it from the pack, but as cheaper smartphones become available across the world, mobile is set to become its most important channel. In 2014, UK mobile traffic increased 61%, with orders jumping by 58%. The business generates a lot of cash - the £58 million expected in 2015 should grow to £135 million in 2017 - which will be important for investment in this area, although it is likely to go on a buying spree. "We forecast continued strong cash flow generation and do not currently assume any dividend pay-outs or other forms of capital return," explained Goldman analyst Carl Hazeley. "Instead, we believe it is likely that Just Eat will deploy excess capital in M&A opportunities, either to consolidate market positions in its current regions, or to enter a new country in line with the company’s own history and stated strategy." Not only is Just Eat highly cash generative, but it has negative working capital and low capital requirements. The Goldman analysts forecast compound annual growth rate in sales of 25% from 2014-2020 and 41% growth in cash profit. Their 560p price target represents 28% upside to current levels. The shares ended the week at 439p, an eye-watering 82 times 2015 earnings estimates. Granted earnings are set to more than halve this year as investment for growth continues, but EPS is then set to bounce by 175% in 2016 and 60% in 2017.
JE. Just Eat PLC, stock that as fallen back due to the Greek debacle and gives an opportunity to get on board. Growth is the name of the game here an International company. Trades on a crazy forward multiple but these are early days. http://content.screencast.com/users/thomaser/folders/Default/media/1613f0f1-8d59-4c4c-8f93-f1c245256ea8/je.%201.jpg
Rep called round after 14 weeks waiting - only to tell us that we are not allowed under their contract, to raise prices to cover the service charges/ commissions from JE. Our owner claims this is rubbish. The Trading Standards web site states that a business can charge to cover the cost of service charges such as those from credit / debit cards etc, etc. I am happy to report we are no longer using JE. And to top it all - the Rep had no idea WHY he was visiting us, other than that he had been instructed to call in. I did give him the full works and time to uncover what he may have known in advance. If he knew what the issues were?, he never let on. Not a good way to conduct business in my humble opinion Too much like those ghost phone calls asking for the owner, but never stating who is calling in the 1st place or for what reason - bye !
like the emperors new clothes have come off, this is valued way to high, deliverance & kangaroo are much more agile & get alot more positive feedback from customers & business's that use there service compared to just eat
Just Eat? Just tap water: One of the few advantages of being the Owner of an Ottoman-Empire themed fast food outlet is never having to gauge demand — thanks to the near inexhaustibility of gently sweating kebab meat on the ubiquitous vertical rotisserie. Conversely, one of the great challenges of becoming a client of these eateries is accurately gauging appetite — thanks to the intoxicating nature of the traditional pre-dinner aperitifs. As a consequence, the former needs to take relatively few risks, while the latter is ever in danger of waking up to a less than welcome discovery. Just Eat was at pains to stress that 43% of its shareholders were already on an enforced diet: as private equity investors, they were not allowed to buy more of a publicly traded company. Others had gained so much since the flotation that their portfolios already had their fill. Nevertheless, the fact that 17% who could have taken up the offer chose not to suggests some caution toward the sector. Just Eat paid 371 times earnings before interest, tax, depreciation and amortisation for Menulog — a price that assumes rapid growth in market share, fees and margins at a time of increasing competition. This may explain why some shareholders — like prudent revellers on a Saturday night — opted for dilution over further indulgence.
overvalued IMHO PE currently 43.2 after shares issued to pay for rival business which was way over valued on current revenue, board members not taking up any of placing shows confidence lol!
Well, they are just taking advantage of over valued paper. As for the purchase, they are going for the land grab strategy, and buying up any competition, at any prices (paid for by over valued paper). Acquisition strategies like this can flatter to deceive, until the momentum slows. Then it is very difficult to hide the facts. However, if the markets continue to rise and consumer confidence continues to grow it may be a while before anyone can risk shorting.