Most popular equity research this week | 18 - 22 Feb

Duke Royalty (DUKE)

A myriad of royalties to come | Cenkos, 19 Feb

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"Duke has announced a new £10.0m royalty investment into MRDB Holdings, trading as Miriad Products (Miriad), the largest privately-owned wholesale supplier of recreational vehicle (RV) parts in the UK. Following the recent addition of Capital Step, Miriad represents Duke's twelfth core holding, further diversifying the royalty portfolio..."

Seeing Machines (SEE)

Sixth Automotive OEM Design Win | Cenkos, 19 Feb

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"Seeing Machines, the advanced computer vision technology company that designs AI powered operator monitoring systems to improve transport safety, has secured a new programme design win with a global US-headquartered automotive OEM to deliver the Group's Driver Monitoring System (DMS) technology..."

Wey Education (WEY)

Refocused and primed for growth | WHIreland, 20 Feb

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"Wey Education plc is a UK-based educational group delivering online education services in the UK and around the world. The tragic loss of its Executive Chairman towards the end of last year has necessitated a refocusing of Wey’s strategy, the details of which were announced in early February. Under the Chairmanship of Barrie Whipp, and led by CEO Jacqueline Daniell, the Group is now set to be more focused and streamlined around its existing businesses of InterHigh and Academy21..."

eServGlobal (ESG)

HomeSend progress update | finnCap, 19 Feb

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"Regular updates give us visibility into progress at HomeSend (HS) – the company’s 35.69%-owned JV with Mastercard. Today’s update excites with the first clear evidence of the changed focus as almost a third of the December flow now comes from account-to-account (A2A) transactions rather than remittances (i.e. banks and financial institutions instead of just MTOs). Although a key element of the eServGlobal investment, HS is private and at this stage commercial sensitivity limits information available..."

Purplebricks Group (PURP)

Update on trading & management | Zeus Capital, 21 Feb

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"Purplebricks’ trading update reveals subdued trading in challenging market conditions. The Board has reduced the guidance for group revenue for the year to 30 April 2019 from £165m to £175m to £130m to £140m under IFRS15..."

Plus500 (PLUS)

Too much of a good thing | Liberum, 12 Feb

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"Elevated volatility is good for trading platforms, but market falls in Q4 caused significant client losses ("P&L gain”), rather than higher spread revenue. The company is choosing to subtract this gain from Q4 revenues and to base 2019 guidance on the organic growth which they have always achieved..."

InnovaDerma (IDP)

Interims – better H2 expected, driven by new launches | finnCap, 21 Feb

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"Interim results to 31 December were in line with the 10 January trading statement, with revenues falling 7% to £3.9m, resulting in a pre-tax loss of £0.4m and period-end cash of £0.7m. Whilst no announcement of an initial purchase order from Boots is included within the interim statement, preparations for a mid-March retail launch are fully underway, with shelf space already allocated in some of the 1,305 stores. We use this opportunity to make changes to our forecasts, reducing revenues, PBT and EPS by 8%, 10% and 6%, respectively..."

Dotdigital Group (DOTD)

Robust interims show opportunity | finnCap, 19 Feb

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"In the first full six-month period since GDPR, DOTD has demonstrated that the Engagement Cloud platform continues to generate robust growth, through yet greater data integration and customer empowering insights. 33% headline growth from three strategic pillars included 15% organic revenue growth: pillar one, revenue from sales of additional functionality, grew 50%; pillar two, sales via strategic partners, grew 43% to constitute 41% of group revenue; and pillar three, international revenue, achieved growth of 40%..."

Oxford Metrics (OMG)

AGM statement affirms outlook positive | N+1 Singer, 22 Feb

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"Oxford Metrics released a brief AGM statement yesterday afternoon highlighting a positive start to the new financial year. Based on trading performance to date, management see traction as consistent with achieving FY’19 market expectations. In line with previous years, the group’s revenues are expected to be second half weighted, yet we are encouraged by management comments regarding strong pipelines building across the business..."

Evotec (EVT)

Early adoption of AI in drug design and beyond | GoetzPartners, 21 Feb

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"The availability of large, diverse datasets (“big data”) in the past 5 - 10 years, coupled with the exponential growth in computing power, increasingly sophisticated algorithms and major advances in experimental techniques for structural biology have firmly propelled artificial intelligence (“AI”) into drug discovery ("DD"). A variety of machine learning (“ML”) tools are now available across all stages of DD and development..."