24th June 2014
The Share Centre is tipping mobile telecoms group Monetise as its share of the week.
The firm’s first half results saw the group narrow losses year on year and maintain its gross margin above 70%. The company continues to see increasing demand for its services believing it is on track to meet its 50% revenue growth target in 2014.
In a note, Sheridan Admans, investment research manager at The Share Centre, says: “Monitise’s global ambitions have been helped by a number of acquisitions in the last financial year.
In June there was news of a former Visa executive becoming joint CEO. Alongside this the group become the technology partner behind Yaap Shopping, the Spanish mobile commerce service launched by the alliance of CaixaBank, Santander and Telefónica.
“Investors will acknowledge that Monitise already boasts leading blue chip partners and customers such as Visa Inc, RBS Group, HSBC and The Cooperative Bank. The new contract wins in Europe and the US demonstrates that the company is seeing multiple opportunities in all geographies.”
“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. Results continue to demonstrate that the group is heading in the right direction and so we recommend Monitise for a higher risk, early stage investment opportunity.”