focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDarktrace Share News (DARK)

Share Price Information for Darktrace (DARK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 595.40
Bid: 595.00
Ask: 595.40
Change: -2.60 (-0.43%)
Spread: 0.40 (0.067%)
Open: 596.60
High: 598.00
Low: 594.80
Prev. Close: 598.00
DARK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trustpilot and Darktrace restore confidence in London tech stocks

Wed, 12th Jan 2022 13:33

(Alliance News) - Reassuring trading updates from Trustpilot Group PLC and Darktrace PLC have rewarded faith in London's recent technology listings.

Trustpilot on Wednesday said it is on-track to report a double-digit rise in revenue for 2021, marking an "excellent financial result" for the online review platform. Darktrace, the cybersecurity firm, on Tuesday upgraded its annual sales guidance after reporting "significant" growth over the first six months of its financial year.

Shares in Copenhagen-based Trustpilot were 2.2% higher at 284.80 pence on Wednesday afternoon in London. The stock is now up 7.5% from its initial public offering price of 265p back in March last year.

Cambridge, England-based Darktrace was up 2.6% on Wednesday to 432.80p, having gained 6.9% on Tuesday. It is now up 73% from its IPO price of 250p in April.

Both recent debutants are members of the FTSE 250 index, after Darktrace was demoted from the FTSE 100 in December following a poor run for the its shares in the autumn amid concerns over the competitiveness of its products.

London's technology sector suffered a crisis of confidence last year amid doubts about the business model of online retail platform THG PLC and the disastrous debut of Deliveroo PLC in March. Meanwhile, longer-in-the-tooth tech listing Ocado Group PLC struggles to be consistently profitable and the stock is down 37% in the past year.

"UK technology IPOs have been receiving a bad press in recent months, but today's update from Trustpilot, following on from the beat and raise from Darktrace yesterday shows that there are good quality businesses coming to market who are delivering ahead of expectations," commented Dan Ridsdale, managing director of technology, media & telecommunications at investment research firm Edison Group.

"Both are now trading ahead of their IPO price, despite share price slides over the last quarter and provide a good platform for appreciation from here."

For 2021, Trustpilot expects to report USD131 million in revenue, a 29% rise from USD102 million the year before. On a constant currency basis, revenue grew 24% year-on-year.

Trustpilot expects annual recurring revenue to increase 22% to USD144 million from USD119 million, while bookings are seen up 32% year-on-year to USD150 million from USD113 million.

"We are very encouraged by this excellent financial result, with revenue ahead of expectations and strong growth in bookings and ARR. Over the past twelve months, we have continued to make strong progress against our strategic ambitions for Trustpilot to be the most trusted and most used global consumer reviews platform," said Chief Executive Officer Peter Holten Muhlmann.

Trustpilot will publish its annual results on March 22. Peel Hunt noted that Trustpilot made no comment on Wednesday about profitability. "Though revenue is marginally ahead of expectations, for the moment we leave our [2021 pretax profit and earnings per share] forecasts unchanged," the broker said. It has a Buy rating and 470p price target on the stock.

Darktrace on Tuesday said it expects revenue for the half-year that ended December 31 to be at least USD190 million, reflecting year-on-year growth of over 50%.

Financial second quarter sales had been better than expected, Darktrace highlighted, both because of strong new customer acquisition and improvements in customer retention rates.

"I am very pleased that we have continued to deliver strong growth across our customer base, annual recurring revenue and revenue in the first half of financial year 2022," commented Chief Finance Officer Cathy Graham.

By Dayo Laniyan; dayolaniyan@alliancenews.com; and Tom Waite; thomaslwaite@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
5 May 2024 13:51

Sunday newspaper round-up: Darktrace, National Insurance, Royal Mail

(Sharecast News) - An aura of mystery continues to linger over whether the biggest of Darktrace's shareholders are prepared to support Thoma Bravo's £4.2bn takeover. Among those is Mike Lynch, who is currently facing trial in the US over fraud claims linked to executive search software outfit Autonomy. Also unclear is the position of the Darktrace Employee Benefit Trust, which owned just under 8% of the company's shares. The trust is managed by Equiniti, which has nothing to do with the decision. - The Financial Mail on Sunday

Read more
30 Apr 2024 09:46

LONDON BROKER RATINGS: Deutsche says buy Barr, Britvic and Fevertree

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
26 Apr 2024 17:31

FTSE 100 continues record run, Darktrace rallies on buyout deal

Darktrace rallies after Thoma Bravo's buyout deal

*

Read more
26 Apr 2024 16:53

LONDON MARKET CLOSE: Stocks rise despite robust US data

(Alliance News) - Stock prices in Europe closed higher on Friday, overlooking another red-hot US inflation reading, with the FTSE 100 achieving another record high.

Read more
26 Apr 2024 16:35

London close: Stocks buoyed by banking, mining positivity

(Sharecast News) - London's equity markets closed positively on Friday, buoyed by gains in the banking sector following better-than-expected results from NatWest.

Read more
26 Apr 2024 12:04

Thoma Bravo to buy UK's Darktrace for around $5.3 bln

Tech investor Thoma Bravo agrees deal for London-listed firm

*

Read more
26 Apr 2024 11:53

LONDON MARKET MIDDAY: FTSE 100 continues record breaking week

(Alliance News) - The FTSE 100 hit a fresh height on Friday, rounding off a record breaking week for the index, as investors eye US inflation data this afternoon.

Read more
26 Apr 2024 09:22

TOP NEWS: Darktrace accepts USD5 billion private equity takeover offer

(Alliance News) - Darktrace PLC on Friday said it has agreed to an all-cash takeover offer worth USD5.32 billion from funds managed by private equity firm Thoma Bravo LP.

Read more
26 Apr 2024 09:14

LONDON MARKET OPEN: Thoma Bravo snaps up Darktrace for USD5 billion

(Alliance News) - Stock prices in London opened higher on Friday, as investors shook off nerves ahead of US inflation data this afternoon.

Read more
26 Apr 2024 08:42

Darktrace agrees to be bought by Thomas Bravo in $5bn deal

(Sharecast News) - Darktrace announced on Friday that the newly-formed Thoma Bravo entity, Luke Bidco, had agreed to acquire it in an all-cash deal.

Read more
11 Apr 2024 17:13

FTSE 100 edges lower as financials drag

Lok'nStore surges to all-time high after buyout by Shurgard

*

Read more
11 Apr 2024 15:56

London close: Stocks finish lower as ECB stands pat

(Sharecast News) - London's stock markets finished in negative territory on Thursday, as investors reacted to the European Central Bank's latest policy announcement and a producer price index release in the United States.

Read more
11 Apr 2024 11:50

LONDON MARKET MIDDAY: Europe takes hit on nerves ahead of ECB decision

(Alliance News) - European equities sunk lower at midday on Thursday, with sentiment hurt by hotter-than-expected inflation from the US crushing hopes of interest rate cuts.

Read more
11 Apr 2024 09:53

Berenberg hikes target price on Darktrace following Q3 results

(Sharecast News) - Analysts at Berenberg raised their target price on software and services firm Darktrace from 600.0p to 630.0p on Thursday after the group's third-quarter results earlier this morning demonstrated a continuation of "strong momentum" seen in Q2.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.