Updates

Tremor - 8 upgrades since June '20

September 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.

After upgrading its forecasts seven times since June 2020 as advertisers continue the shift in their spend to connected TV and digital video from linearTV, Finncap has upgraded once again this month following Tremor’s H1 results and raises its share price target to £14. Q2 organic net revenue growth was +159% to US$73.7m, an acceleration from the +96% to US$63m seen in Q1. Q2 21 adjusted EBITDA was US$37.3m, up from Q1’s US$27.5m. That represents a Q2 margin on net revenue of 51%, up from 44%. Q3 guidance is organic revenue growth of at least 50% at an EBITDA margin of c.50%.Finncap upgrades its FY21 group revenue forecast by 13% to US$317m and EBITDA by 36% to US$130m but given that it has already achieved US$65m in H1, a s ...

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Lookers - Eps forecasts climb to 12.6p

Argentex - Eps to bounce to 11.1p and 14.8p over next two years

Tremor - Buys Amobee DSP for US$239m (September 2022)

Tremor (June 2022)

Tremor - Finncap sets £17 target - business on the auction block? (March 2022)

Tremor (November 2021)

Tremor (July 2021)

Tremor - Confirms US listing for Q2 - strong buy (April 2021)

Tremor - Hitting the ball out of park with +28% eps upgrade following last monthâ€™s upgrade (February 2021)

Tremor - Astonishing growth trajectory from CTV (January 2021)

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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