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May 22 2023, 07:00 IST/BST
Disruptive Technology
Week 19 – US Bellwether Blast: show me the money
- Sectors : Disruptive Technology
- Companies : Kainos Group plc | Baltic Classifieds Group plc | musicMagpie plc | Deliveroo plc | DoorDash Inc | OnTheMarket plc | Sosandar plc | Trustpilot Group plc | Just Eat Takeaway.com | Auto Trader Group plc | Carvana Co | Cazoo Group | Purplebricks Group plc | Darktrace plc | On the Beach Group plc | Marks Electrical Group plc | AO World plc | Delivery Hero | Virgin Wines UK plc | GB Group plc | ASOS plc | Rightmove plc | boohoo group plc | Itsarm plc | Moonpig Group plc | Naked Wines plc | HelloFresh SE | Auto1 Group SE
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 | 67.4p |
| ASOS plc | NEUTRAL | 29/09/21 | N/A | N/A | 440p |
| Auto Trader Group plc | NEUTRAL | 24/01/22 | N/A | N/A | 645p |
| Auto1 Group SE | NEUTRAL | 09/02/22 | N/A | N/A | 820c |
| Baltic Classifieds Group plc | NEUTRAL | 09/08/22 | N/A | N/A | 160.4p |
| boohoo group plc | OUTPERFORM | 22/09/21 | N/A | N/A | 43.5p |
| Carvana Co | NEUTRAL | 09/02/22 | N/A | N/A | 1196c |
| Cazoo Group | NEUTRAL | 08/09/21 | N/A | N/A | 9752c |
| Darktrace plc | NEUTRAL | 11/08/22 | N/A | N/A | 281.4p |
| Deliveroo plc | OUTPERFORM | 18/01/22 | N/A | N/A | 109p |
| Delivery Hero | OUTPERFORM | 18/01/22 | N/A | N/A | 4021c |
| DoorDash Inc | NEUTRAL | 18/01/22 | N/A | N/A | 6697c |
| GB Group plc | OUTPERFORM | 11/08/22 | N/A | N/A | 306p |
| HelloFresh SE | OUTPERFORM | 09/02/22 | N/A | N/A | 2323c |
| Itsarm plc | NEUTRAL | 09/08/22 | Outperform | 22/09/21 | 0.3p |
| Just Eat Takeaway.com | OUTPERFORM | 18/01/22 | N/A | N/A | 1714c |
| Kainos Group plc | NEUTRAL | 06/09/22 | N/A | N/A | 1242p |
| Marks Electrical Group plc | OUTPERFORM | 12/01/23 | Neutral | 26/07/22 | 87.0p |
| Moonpig Group plc | NEUTRAL | 06/10/21 | N/A | N/A | 136p |
| musicMagpie plc | NEUTRAL | 29/09/21 | N/A | N/A | 22.5p |
| Naked Wines plc | NEUTRAL | 06/10/21 | N/A | N/A | 104p |
| On the Beach Group plc | OUTPERFORM | 09/02/23 | Neutral | 06/10/21 | 104p |
| OnTheMarket plc | NEUTRAL | 09/08/22 | N/A | N/A | 75.5p |
| Purplebricks Group plc | OUTPERFORM | 06/03/23 | Neutral | 24/01/22 | 0.8p |
| Rightmove plc | OUTPERFORM | 24/01/22 | N/A | N/A | 557p |
| Sosandar plc | OUTPERFORM | 26/07/22 | N/A | N/A | 25.0p |
| Trustpilot Group plc | NEUTRAL | 06/09/22 | N/A | N/A | 85.4p |
| Virgin Wines UK plc | NEUTRAL | 26/07/22 | N/A | N/A | 32.0p |
DAVY VIEW
Microsoft (MSFT) and Alphabet (GOOGL) had over US$100bn in cash when they last spoke to the market– roughly the 60th largest country’s GDP. Our coverage is 10% the size of the bellwethers and has 10% of the cash, but the risk profiles are slightly different as their fixed costs are higher. It shows that tech is sustainable once it is scaled, but today’s macro makes getting there difficult.
