Disruptive Technology

E-commerce players: earnings downgrades

  • Sectors : Disruptive Technology
  • Companies : musicMagpie plc | Moonpig Group plc | In the Style Group plc | Naked Wines plc | boohoo group plc | AO World plc | ASOS plc

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
AO World plc NEUTRAL 22/09/21 N/A N/A 43.3p
ASOS plc NEUTRAL 29/09/21 N/A N/A 1055p
Auto Trader Group plc NEUTRAL 24/01/22 N/A N/A 653p
Auto1 Group SE NEUTRAL 09/02/22 N/A N/A 1143c
boohoo group plc OUTPERFORM 22/09/21 N/A N/A 63.4p
Carvana Co NEUTRAL 09/02/22 N/A N/A 4698c
Cazoo Group NEUTRAL 08/09/21 N/A N/A 8044c
Deliveroo plc OUTPERFORM 18/01/22 N/A N/A 92.2p
Delivery Hero OUTPERFORM 18/01/22 N/A N/A 5026c
DoorDash Inc NEUTRAL 18/01/22 N/A N/A 8029c
HelloFresh SE OUTPERFORM 09/02/22 N/A N/A 2848c
In the Style Group plc NEUTRAL 09/08/22 Outperform 22/09/21 29.0p
Just Eat Takeaway.com OUTPERFORM 18/01/22 N/A N/A 1841c
Moonpig Group plc NEUTRAL 06/10/21 N/A N/A 199p
musicMagpie plc NEUTRAL 29/09/21 N/A N/A 45.0p
Naked Wines plc NEUTRAL 06/10/21 N/A N/A 151p
On the Beach Group plc NEUTRAL 06/10/21 N/A N/A 113p
Purplebricks Group plc NEUTRAL 24/01/22 N/A N/A 15.5p
Rightmove plc OUTPERFORM 24/01/22 N/A N/A 644p

DAVY VIEW

The cost-of-living crisis is dampening consumer demand; the high inflationary environment is putting pressure on margins; and increasing interest rates are reducing investor appetite for longer duration assets. Earnings estimates come down across the board, with Moonpig (MOON) the outlier due to the acquisition of fast growing Buyagift. We cut our price targets and reduce In The Style (ITS) to ‘Neutral’.

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Aug 9 2022, 07:00 IST/BST

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