Price Target Changed • Nov 16
Price target increased to AU$2.38 Up from AU$2.16, the current price target is an average from 8 analysts. New target price is 20% above last closing price of AU$1.98. The company is forecast to post a net loss per share of AU$0.057 next year compared to a net loss per share of AU$0.062 last year. Price Target Changed • Sep 17
Price target increased to AU$2.38 Up from AU$2.16, the current price target is an average from 9 analysts. New target price is 14% above last closing price of AU$2.09. The company is forecast to post a net loss per share of AU$0.057 next year compared to a net loss per share of AU$0.062 last year. Major Estimate Revision • Aug 23
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from AU$177.9m to AU$180.2m. Forecast EPS reduced from -AU$0.06 to -AU$0.07 per share. Software industry in Australia expected to see average net income growth of 21% next year. Consensus price target broadly unchanged at AU$2.15. Share price rose 9.1% to AU$2.10 over the past week. Reported Earnings • Aug 18
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: AU$0.062 loss per share (down from AU$0.039 loss in FY 2021). Revenue: AU$146.0m (up 29% from FY 2021). Net loss: AU$30.8m (loss widened 64% from FY 2021). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 5.7%. Over the next year, revenue is forecast to grow 24%, compared to a 41% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 18
Price target increased to AU$2.40 Up from AU$2.16, the current price target is an average from 8 analysts. New target price is 19% above last closing price of AU$2.02. Annonce • Aug 16
Thoma Bravo, L.P. agreed to acquire Nearmap Ltd (ASX:NEA) for AUD 1.5 billion. Thoma Bravo, L.P. agreed to acquire Nearmap Ltd (ASX:NEA) for AUD 1.5 billion on July 6, 2022. As per the transaction, Thoma Bravo, L.P. will pay AUD 2.1 per share. The transaction is subject to Foreign Investment Review Board approval, clearance in the United States under the Hart-Scott-Rodino Act, and other customary terms and conditions. Citigroup Global Markets Australia Pty Limited acted as financial advisor and DLA Piper Australia Pty Ltd acted as legal advisor to Nearmap Ltd. Recent Insider Transactions • Apr 27
Independent Non-Executive Chairman recently sold AU$666k worth of stock On the 21st of April, Peter Richard James sold around 488k shares on-market at roughly AU$1.37 per share. This was the largest sale by an insider in the last 3 months. Peter Richard has been a seller over the last 12 months, reducing personal holdings by AU$467k. Recent Insider Transactions • Mar 22
Independent Non-Executive Chairman recently bought AU$98k worth of stock On the 18th of March, Peter Richard James bought around 81k shares on-market at roughly AU$1.22 per share. This was the largest purchase by an insider in the last 3 months. Peter Richard has been a buyer over the last 12 months, purchasing a net total of AU$199k worth in shares. Price Target Changed • Feb 22
Price target increased to AU$2.48 Up from AU$2.23, the current price target is an average from 7 analysts. New target price is 105% above last closing price of AU$1.21. Stock is down 51% over the past year. The company is forecast to post a net loss per share of AU$0.059 next year compared to a net loss per share of AU$0.039 last year. Reported Earnings • Feb 17
First half 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First half 2022 results: AU$0.024 loss per share (down from AU$0.02 loss in 1H 2021). Revenue: AU$67.6m (up 24% from 1H 2021). Net loss: AU$11.9m (loss widened 27% from 1H 2021). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 26%, compared to a 31% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Feb 17
No longer forecast to breakeven The 6 analysts covering Nearmap no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$11.0m in 2024. New consensus forecast suggests the company will make a loss of AU$2.85m in 2024. Annonce • Feb 10
Nearmap Announces Management Changes Nearmap has appointed Elizabeth Del Ferro, Rick Cassidy and Stephen Ellis as General Managers of the Insurance, Commercial and Government verticals respectively in North America, following massive growth and momentum in the business. Elizabeth, Rick and Stephen are proven industry experts with deep historical knowledge and a detailed understanding of their respective markets. In their roles as general managers, they will spearhead all aspects of their vertical businesses. Their expertise will extend the foothold of the Nearmap brand and lend a guiding hand in all facets of their business including sales, alliances, product marketing, operations, and customer success. Elizabeth Del Ferro She most recently served as the Vice President of Partner Go-to-Market for Duck Creek Technologies. Rick Cassidy joins Nearmap as the GM of the Commercial vertical. He has a long and distinguished career as a Global Business Development Executive in the geospatial sector, including senior management roles at large geospatial firms where he oversaw all U.S. business operations. Stephen Ellis is the GM of Government for North America. Before joining Nearmap, he was the Manager of the Geospatial Products and Solutions Division at BAE Systems Inc. where he oversaw operations for all Federal, State, and Local Government endeavors. Annonce • Feb 08
Nearmap Ltd Announces Board Changes Nearmap Ltd. announced the appointment of Helen Souness as an independent Non-Executive Director, effective 1 March 2022. Ms. Souness is an experienced company director and executive, with more than 25 years' experience working in digital strategy, marketing and product across industry leading companies such as Seek, Envato and Etsy in Europe and Australasia. She is also currently a Non-Executive Director at Camplify and virtual courier company Sendle. The Company further advises that Ms. Tracey Horton has stepped down from the Board. Ms. Souness will assume the role of Chair of the People, Culture and Remuneration Committee following Ms. Horton's resignation. Annonce • Jan 31
Nearmap Ltd. Announces the Appointment of Penny Diamantakiou as Chief Financial Officer Nearmap Ltd. announced the appointment of Penny Diamantakiou as Chief Financial Officer (CFO) effective 31 January 2022, following the previously announced promotion of Andy Watt to Chief Growth & Operations Officer. Penny has had a distinguished career spanning more than 20 years as a business executive with a passion for digital, media and technology businesses. Previously the CFO of 5B, a clean technology leader that accelerates access to low-cost, safely deployed, solar energy, Penny has also held leadership roles at companies including Optus, Yahoo7, WooliesX (part of the Woolworths Group) and the Association for Data-Driven Marketing & Advertising (ADMA). Reported Earnings • Aug 22
Full year 2021 earnings released: AU$0.039 loss per share (vs AU$0.081 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: AU$113.4m (up 17% from FY 2020). Net loss: AU$18.8m (loss narrowed 49% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Major Estimate Revision • Aug 19
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from AU$138.5m to AU$140.4m. Forecast EPS reduced from -AU$0.044 to -AU$0.064 per share. Software industry in Australia expected to see average net income growth of 16% next year. Consensus price target broadly unchanged at AU$2.72. Share price fell 4.2% to AU$2.04 over the past week. Breakeven Date Change • Aug 19
Forecast breakeven moved forward to 2023 The 6 analysts covering Nearmap previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of AU$6.86m in 2023. Average annual earnings growth of 60% is required to achieve expected profit on schedule. Price Target Changed • Jul 19
Price target increased to AU$2.70 Up from AU$2.52, the current price target is an average from 6 analysts. New target price is 24% above last closing price of AU$2.18. Stock is down 2.7% over the past year. Price Target Changed • Jun 08
Price target decreased to AU$2.52 Down from AU$2.91, the current price target is an average from 5 analysts. New target price is 37% above last closing price of AU$1.84. Stock is down 21% over the past year. Recent Insider Transactions Derivative • May 14
CEO, MD & Executive Director exercised options to buy AU$1.6m worth of stock. On the 12th of May, Robert Newman exercised options to buy 934k shares at a strike price of around AU$0.71, costing a total of AU$661k. This transaction amounted to 9.7% of their direct individual holding at the time of the trade. Since June 2020, Robert's direct individual holding has increased from 9.60m shares to 9.61m. Company insiders have collectively bought AU$1.9m more than they sold, via options and on-market transactions, in the last 12 months. Price Target Changed • May 11
Price target decreased to AU$2.91 Down from AU$3.17, the current price target is an average from 6 analysts. New target price is 73% above last closing price of AU$1.69. Stock is up 2.7% over the past year. Recent Insider Transactions • May 11
Non Executive Director recently bought AU$929k worth of stock On the 7th of May, Ross Stewart Norgard bought around 500k shares on-market at roughly AU$1.86 per share. In the last 3 months, they made an even bigger purchase worth AU$1.0m. Insiders have collectively bought AU$1.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 02
Non Executive Director recently bought AU$1.0m worth of stock On the 30th of March, Ross Stewart Norgard bought around 500k shares on-market at roughly AU$2.04 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$211k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 18
Independent Non-Executive Chairman recently sold AU$810k worth of stock On the 15th of March, Peter James sold around 382k shares on-market at roughly AU$2.12 per share. This was the largest sale by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. Major Estimate Revision • Feb 21
Analysts update estimates The company's losses in 2021 are expected to improve with analysts raising their consensus EPS forecasts from -AU$0.06 to -AU$0.05. Revenue estimate was approximately flat at AU$111.5m. The Software industry in Australia is expected to see an average net income growth of 17% next year. The consensus price target increased from AU$3.06 to AU$3.11. Share price is up 21% to AU$2.62 over the past week. Reported Earnings • Feb 18
First half 2021 earnings released: AU$0.02 loss per share (vs AU$0.041 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: AU$54.7m (up 18% from 1H 2020). Net loss: AU$9.39m (loss narrowed 50% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 46%. Over the next year, revenue is forecast to grow 17%, compared to a 23% growth forecast for the Software industry in Australia. Annonce • Feb 17
Nearmap Strikes Partnership with North Central Texas Council of Governments to Provide Recurring Oblique and Orthophotography Aerial Imagery Nearmap, announced a partnership with the North Central Texas Council of Governments (NCTCOG) enabling its 16 counties in North Texas around Dallas and Fort Worth to gain access to recurring orthophotography and oblique imagery. The NCTCOG is a regional agency designed to facilitate region-wide cooperation between different city and county government agencies, assist local governments in planning for common needs, cooperate for mutual benefit, and coordinate for regional development in areas such as transportation, research, environmental, and emergency management. The NCTCOG comprises more than 230 member governments including 16 counties, cities, school districts, and special districts all driving towards strengthening the individual and collective power of local governments. The NCTCOG facilitates the purchase of aerial imagery for North Central Texas as a cost-sharing objective for local governments and other interested entities. Each year, NCTCOG coordinates with local public agencies and other entities to determine the need for spatial data projects ranging in size from a few cities to the entire 12,800-sq. mile region and beyond. Annonce • Feb 16
Nearmap Ltd announced that it expects to receive AUD 15 million in funding Nearmap Ltd (ASX:NEA) announced a private placement of common shares of gross proceeds of AUD 15 million on February 15, 2021. The transaction is expected to close in the second half of 2021. Is New 90 Day High Low • Feb 15
New 90-day high: AU$2.57 The company is up 9.0% from its price of AU$2.36 on 17 November 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$5.04 per share. Is New 90 Day High Low • Jan 11
New 90-day low: AU$2.00 The company is down 19% from its price of AU$2.48 on 13 October 2020. The Australian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$4.97 per share. Is New 90 Day High Low • Dec 02
New 90-day low: AU$2.20 The company is down 29% from its price of AU$3.08 on 03 September 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$4.02 per share.