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APX - APPEN LIMITED


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this is now a company called APPEN - code APX - a language and search data software business - came to market in Jan 2015

 

has upgraded its revenue targets three times this year

Appen upgraded its revenue forecast range for the full year to $77 million to 85 million from $68 million to $76 million. arnings before interest, tax, depreciation and amortisation were also lifted to between $11.7 million and $13 million.

 

The news prompted Bell Potter analyst Chris Savage to increase his 12-month price target for the stock by 28 per cent to $1.60. "We are now forecasting 2015 revenue and EBITDA of $80.8 million and $12.5 million, which are within the upgraded guidance ranges," Mr Savage said. "We maintain our buy recommendation on Appen ... we have also reduced the discount we apply in the relative valuations from 15 per cent to 10 per cent."

 

If Appen meets Bell Potter's projections, its revenue growth for the year will be 59 per cent and EBITDA will be up 90 per cent on 2014.

 

The guidance upgrade for the business, which provides services that improve the way search function and voice recognition works with natural languages, has been driven predominantly by organic growth including contract wins in its language resources segment. This is in contrast to the first half, when the falling Australian dollar was the strongest driver of its 28 per cent revenue growth.

 

Like Bell Potter, Taylor Collison also believes Appen shares are undervalued. "Shares continue to trade at a 20 to 40 per cent discount to our estimate of fair value, with further upside possible based on pilot pipeline conversion. We retain our outperform recommendation"

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  • 2 years later...
  • 2 weeks later...

In a TH. New shares are being offered @ $5.80 - last traded price was $5.83 - a very low discount

 

APPEN TO ACQUIRE LEAPFORCE AND LAUNCH CAPITAL RAISING

Appen Limited (ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“AppenÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ) (ASX:APX) a global leader in the development of high-quality,

human annotated datasets for machine learning and artificial intelligence, has today

executed binding agreements to acquire Leapforce for a total consideration of US$80.0

million1 (A$105.3 million2)

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Appen: The Future Is Artificial

Small Caps | Dec 01 2017

AppenÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s game-changing acquisition leaves the company firmly positioned to ride the new wave of artificial intelligence applications.

- AI industry at inflection point

- Leapforce acquisition materially increases scale

- Significant earnings accretion forecast

https://www.fnarena.com/index.php/2017/12/0...-is-artificial/

https://www.shortman.com.au/stock?q=apx

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Having posted on this earlier (2 years ago, SP just above $1) and then promptly forgotten it, there's a distinct feeling of "the one that got away".

 

I am somewhat perplexed, however, whenever something is announced as a game-changing acquisition, because it does beg the question "How come the smaller company wasn't itself in a game changing situation?". I know there are issues like synergies, access to capital, critical mass, access to key employees, etc, etc; always more questions (than answers)

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A big fish that got away, by looks of things :( UBS recently initiated coverage on Appen with a buy rating and massive $9.80 price target. Time will tell if the game changing acquisitions actually do deliver.

 

One of the industries APX is focused on is Healthcare. AI in this area alone has a big future. Jim Mellon (UK's answer to Buffett) is betting big on AI, with his investment in Juvenescence Limited that uses artificial intelligence techniques to drug discovery in age related diseases http://investors.biohavenpharma.com/news-r...-2017-192745000

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Updated chart.

 

FWIW - Bell Potter recently gave their key picks in the local tech sector and according to them their picks, in order of preference are

1. CGL Citadel Group

2. TNE TechnologyOne

3. SEN Senetas

4. APX Appen

 

Not sure if BP has has any vested interest in any of these stocks - i.e. received commissions on CR's etc, so as always DYOR

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