Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on IDEAGEN PLC. We currently have 25 research reports from 2 professional analysts.
|30Mar17 11:48||RNS||Holding(s) in Company|
|28Mar17 09:16||RNS||Holding(s) in Company|
|27Mar17 18:05||RNS||Holding(s) in Company|
|23Mar17 10:49||RNS||Directors' Dealing & Total Voting Rights|
|23Mar17 07:00||RNS||Acquisition and Placing to raise £10m|
|01Mar17 11:47||RNS||Exercise of Options and Total Voting Rights|
|01Mar17 07:00||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
Acquisition and placing
23 Mar 17
Ideagen has announced the acquisition of PleaseTech, a software provider specialising in providing simultaneous, controlled, and secure collaboration for document review, co-authoring and redaction, incorporating an audit trail of transparency and accountability. The acquisition includes £10m initial cash consideration and £2m deferred conditional consideration, funded by a £10m placing at 75p. The acquisition, as ever, demonstrates the Ideagen strategic logic of adding complementary quality compliance software with significant cross sales potential; this deepens potential relationships in existing core sectors (life sciences, aerospace & defence) as well as adding new customers, and strength in the US; and provides an additional source for recurring revenue, encouraging group visibility and earnings quality. Target lifted to 98p.
More customers, more IP, more recurring revenue
24 Jan 17
Ideagen has demonstrated its reassuringly routine delivery of interim results in line with unchanged revenue and profit expectations. Continuing with the established strategy of buy and build and its track record of successful integration, Ideagen has added IP, recurring revenue and customers, while organic revenue growth of 16% underpinned headline growth of 22%. Margin improvement added to an increase in recurring revenue to further improve earnings quality. As one of our top picks for the year, Ideagen is continuing to deliver operationally within the growing governance, risk, and compliance sector where growth in demand remains only at the beginning of the adoption phase for pan-enterprise solutions.
N+1 Singer - IQE - Upgrade cycle set to continue
24 Mar 17
IQE’s FY’16 results showed good growth in all key segments and came in c.4% ahead of our recently upgraded forecasts. We have upgraded our forecasts today by 5% and 3% in FY’17 and FY’18 respectively, but expect the upgrade cycle to continue. The increase in capex in FY’16 looks to us a strong indication of future volume increases, and we see scope for significant upgrades through the course of our forecast horizon. We highlight three opportunities in this note, each of which could materially move the needle in its own right. IQE is one of our key picks for 2017 and has performed strongly YTD (+48%), but we believe there is more to go for. We increase our target price to 76p and retain our Buy recommendation.
Or, helping a juggernaut turn on a dime
24 Mar 17
Sopheon has spent many years evolving a state-of-the-art platform allowing Enterprise customers to manage and monitor their pipelines of innovation. As this market matures and on the back of some major reference client wins, Sopheon’s Accolade product is beginning to see material success on a number of fronts. This note describes the marketplace, the technology, and the progress now being achieved.
Stronger and stronger
23 Mar 17
Sopheon has reported strong prelims in line with the January trading update which had demonstrated that revenue delivery had been achieved on cost underspend, leading to EBITDA (+7% vs FY16E) and adjusted PBT (+22%) outperformance. Strong licence sales, high levels of recurring revenue retention (94% by value), and ever upgrading product portfolio in terms of functionality delivered revenue strength. Gartner recognition illustrates the transition from a product which needed to be described then sold, to a solution set sought by customers to deal with the increasingly acknowledged enterprise problem of efficient product lifecycle management. Sopheon is well positioned for future growth, and board confidence for future growth leads to planned increase in investment, yet still delivering $5.6m ($5.3m pre FX) EBITDA. Having smashed through our FY16 forecasts and target price, we restore FY17 forecasts and lift the 12-month target from 360p to 620p.
Acquisition of Infracast Limited
27 Mar 17
IMImobile have announced the acquisition of Infracast Limited for an initial consideration of £8.2m. Infracast is a leading provider of multi-channel messaging applications and will expand IMImobile’s customer base whilst providing significant cross-selling opportunities. This looks another high quality acquisition. We remain Buyers and increase our T/P to 220p.
N+1 Singer - Instem - Investment to accelerate growth trajectory
28 Mar 17
FY16 results were as expected, reflecting some contract slippage towards the year end, the largest of which has since been signed. The outlook remains buoyant, particularly around SEND, where Instem continues to dominate the market. Further investment is however being made to further capitalise on the numerous growth opportunities. This will constrain short term profitability, but should pay back relatively quickly and leave forecasts on a higher for longer growth trajectory.