20th September 2013
Stockbrokers are recommending that intrepid investors snap up shares in mobile telecommunications group Monitise writes Philip Scott.
The FTSE AIM 50 listed group is currently trading at circa 58.75p per share. In the last year Monitise’s share price has ranged from 29.75p to 61.50p and over 12 months the stock has soared by 72% – and right now the broker consensus on Digital Look is calling the stock a ‘buy’.
Monitise’s global ambitions have been helped by a number of acquisitions in the last financial year and there has been renewed interest in the company as it completed new deals with IBM and Telefonica.
Sheridan Admans, investment research manager at The Share Centre, is also bullish on the shares. He says: “Monitise reported full year results at the beginning of the month that showed the company continues to confidently head in the right direction. Strong demand saw revenues jump to £72.8m, up from £36.1m for the same period last year, but slightly below market expectations.
“We recommend investors ‘buy’ Monitise for a high risk, early stage investment opportunity. The company continues to attract high calibre partners and customers, helping to firmly integrate its proposition as the preferred interface between financial institutions and their customers globally.”