Updates

CentralNic - Year-to-date organic growth now reaching a record 29%; 268p broker target

November 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.

Ahead of reporting Q3 on 22 November, CNIC has said that following its significant investment programme, organic growth has accelerated on the previous quarter. It therefore expects to report sales for the first nine months to end September up 66% (29% organic) and profits up 45% on the period last year. Net debt fell US$6m to US$79m despite spending US$13m on the acquisitions during the period. Stifel has upgraded its forecast for the year ending December to US$356.2m sales, EBITDA of US$42.2m and eps of 10 cents. The broker increases its price target to a giddy 268p, 205p over the price at which we added the shares to GP3. As the broker notes, “Now more than 45m domains use at least one of CentralNic’s platforms (12% of dom ...

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