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|11/10/2016 14:07:01||London Stock Exchange||Adoption of Financial Reporting Standard FRS102|
|29/09/2016 15:11:57||London Stock Exchange||Grant of Options|
|24/08/2016 15:44:35||London Stock Exchange||Director/PDMR Shareholding|
|10/08/2016 11:20:49||London Stock Exchange||Holding(s) in Company|
|28/07/2016 10:23:03||London Stock Exchange||Director Dealing|
|05/07/2016 07:00:08||London Stock Exchange||Contract Extension|
|29/06/2016 07:00:08||London Stock Exchange||Interim Results to 31 March 2016|
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Research reports on PINNACLE TECHNOLOGY GROUP PL
Providers covering PINNACLE TECHNOLOGY GROUP PL
21 Dec 15
Referring back to our sales note 27 July 2015 – at that time the market cap of Pinnacle was £5.77m it is now £10.1m a gain of around 75%. There has been a bit of news since then: A Cloud Security Agreement with Baxters (the soup folks): A new sales team to drive 02 for business: And the appointment of a new Executive Chairman, Gavin Lyons. The latter announcement (RNS 7 Dec 2015) seems to have had the greatest impact on the share price. Presumably as Gavin’s previous gig, as CEO of Accumuli, was so successful. Accumuli’s shares giving a three-fold return, during his tenure from August 2012 to the takeover by NCC in April 2015.
27 Jul 15
If the proof of the pudding is in the eating, then it is fair to say that Pinnacle’s pudding is not quite out of the oven; but by the time this pudding has been served up and eaten, the share price may well be a multiple of where it is now. So rather than sit at the table, spoon in hand, it might be helpful to have a look around the kitchen and meet the new chef.
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Upgrade on lower costs, pipeline strong
24 Oct 16
Fusionex’s year-end trading update indicates that revenues will be in line with market expectations (we estimate 16% revenue growth in FY16) and that a strong pipeline for GIANT 2016 should drive further momentum in FY17. The planned increase in sales, marketing and other investment to support adoption of GIANT has been more moderate than we forecast, meaning that EBITDA is expected to be significantly above consensus. We upgrade our FY16 EBITDA by MYR3.2m (83% but from a compressed level) to reflect this, while leaving our estimates for FY17 and FY18 unchanged.
N+1 Singer - NCC Group - Strong revenue but margins weaker in H1
20 Oct 16
NCC’s trading update for the four months to September shows continued strong revenue growth, but margin pressures in the first half mean that profit for the year will be more second half weighted than usual. Group revenue increased 36% in the period (+21% organic) with Assurance and Escrow both growing well (+25% and +4% respectively). The Assurance division has seen three unrelated large contract cancellations however, as well as some difficulties with some managed services renewals. We are not making any changes to our forecasts at this stage but now expect a significant second half weighting to profits. We remain supportive of the story but with the shares priced for perfection, we downgrade to Hold, with a target price of 353p (from 384p).
A slower ramp for GOV.UK Verify
20 Oct 16
Underlying trading was solid in H116. However the new GOV.UK Verify service is behind plan and we are pairing back our revenue estimates to reflect a slower ramp. Outperformance and deferred investment elsewhere mitigates the earnings impact of this in FY16, but we reduce EPS forecasts by 5% in FY17 and FY18. The business remains very well placed, but we believe that a period of share price consolidation is likely ahead of the transition to the new CEO, Chris Clark (ex-Experian) in April 2017.
N+1 Singer - Earthport - Traction continuing to build
26 Oct 16
Earthport has reported an in-line set of results for the full year to June’16. The group has delivered 89% growth in the number of transactions, resulting in payment volumes through the platform increasing to $11.8 billion. A FY’16 adj. EBITDA loss of £7.5m represents a strong HoH trajectory (H1 loss £5.3m, H2 loss £2.2m) and the group has reaffirmed its commitment to becoming cash generative in Q4’17. Earthport has proved that it can scale new customers quickly as well as extracting significant volume increases from existing customers. With multiple catalysts on the horizon and a strong start to the year already achieved, we believe the group is very well-placed to gain a significant share of the vast cross-border payments market.