Updates

Kape - +68% upgrade to eps forecasts

April 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares went into orbit after Kape acquired Israel-based Webselenese for US$149.1m (US$116.6m cash plus 12.1m shares) from its two founders who end up with a 5.4% holding. A few days later it announced its results with sales +85% to US$122.2m, EBITDA +168% to US$39m and eps +107% to 13.5 cents. EBITDA margins rose almost 10% to 31.9% as benefits of scale from the earlier PIA acquisition kicked in and post acquisition synergies were higher than expected. In the light of the deal, ShoreCap upgrades eps by 68% to 25.5 cents, with next year lifted 31% to 33.3 cents. CEO Ido Erlichman says Kape has been working with Webselenese since 2017 following the acquisition of Cyberghost. Webselenese owns a number of privacy and security ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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