some light reading5 Dec 2014 11:06
Intellisys upgrade cloudBuy to 118p
" Cloudbuy released better than anticipated interim results last August and this morning’s announcement provides further evidence that the group’s good momentum is being maintained, if not accelerating. We are retaining our current 2014-2017 forecasts for now, but the pressure is building such that an upgrade to our expectations is becoming almost inevitable.
We have however updated our valuation approaches (including expanding our peer group with other marketplace groups: Alibaba, Amazon, Basware and eBay), indicating a revised potential upside to 118p."
More from Intellisys
cloudBuy through this agreement has instantly become India’s largest marketplace provider, leapfrogging flipcart, which recently raised US$1 billion at a valuation of US$5 billion with a less sophisticated platform. The cloudBuy/SYNISE marketplace has five times flipcart’s suppliers while the anticipated value of transactions will be twice that of flipcart at US$2 billion p.a.