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MP1 - Megaport Limited

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Megaport was founded in 2013 with the aim of becoming a global leader in the fast growing elastic interconnection services market. Using Software Defined Networking the Company has developed a platform that provides customers with the ability to provision interconnection services between their network and other networks and cloud providers already connected to the Megaport Fabric. Services can be directly controlled by the customer via a device such as a mobile phone or tablet, their computer or their open API.

It is anticipated that MP1 will list on the ASX during December 2015.

http://www.megaport.com
 
rnr said:
Still moving up slowly.
Click to expand...

MP1 got all the way up to $10.50 before getting beaten back to $7.50 where it appears to have found support.

$9 and $9.50 looks like it may present some difficulty for bulls, but if it gets through those levels with any conviction, it may well take another crack at its previous highs.

Last couple of days have been pretty bullish.

 
greggles said:
MP1 got all the way up to $10.50 before getting beaten back to $7.50 where it appears to have found support.
Click to expand...

I looked at this yesterday, watched a montgomery video, Megaports cash burn is 2 million a month and yet somehow this equates to a
market cap of 1.1 billion dollars, we all like a growth story and potential but many of these tales of wonder and greatness will end in tears.
 

God old Rearview Roger.

Another view ..... UBS has increased its price target on Megaport following the company's $62 million capital rising, saying it gave the company plenty of headroom to accelerate its rollout. Maintaining its 'buy' rating on the stock, UBS lifted its price target from $11.30 to $11.55, more than 20 per cent above its Tuesday close.

The broker said the company's capital raising had "well and truly" de-risked funding requirements until Megaport's forecast break even point of 2021, would allow expansion into new geography and left headroom for any further strategic investments.

"Our thesis remains unchanged – Megaport will be a major beneficiary of the data generation over the next decade, with a large first mover advantage, low capital intensity and material operating leverage as the portfolio matures," said analyst Tim Plumbe. "We recognise the high multiples, but highlight the strong revenue growth profile."
 
Also interested to see what what the effect of being added to the ASX200 will be.

 
Trav. said:
Also interested to see what what the effect of being added to the ASX200 will be.
Click to expand...
So, would that have been a signal for early money to get out? MP1 sort of dipped, late Dec, but has recovered from $10 to $11+ again.

I'm not entirely sure what "a provider of elasticity connectivity and network services interconnection across any location, to any services by SDN based, ubiquitous Ethernet fabric allowing our customers wider coverage, speed to market while reducing costs and enabling real-time provisioning across one platform" does, but owning it since early 2016 and participating in Capital Raisings has enhanced my portfolio.
 
the buying is back (new high), after yesterday's Half Yearly. Still making a net loss (capital raise of $62mill helps) and EBITDA numbers heading in right direction.

 
Another capital raising. Hungry beasts, these data stories
And a SPP, but we all know that's crumbs for the retail crowd. Scale back like always
 
"The surge in working from home as a result of the coronavirus crisis has meant Megaport (MP1) has benefited from an increase in connections via virtual desktop infrastructure and cloud-based applications. Telecommunications companies and data centres are typically considered critical infrastructure and remain in “safe mode” operations despite the lock-downs".

Should it raise the full A$65mn, this will take MP1's total equity raisings to A$310mn since September 2016. It last raised over A$60mn in December 2019.

Four brokers covering MP1, two are Buys and 2 are Hold/ Neutral. Consensus Target is $11.98
and then whereas Goldman Sachs has a In a Covid-19 update, Megaport had already employed mobile extensively as around 60% of its staff were already working remotely before the crisis. Hence, moving to 100% was relatively smooth. Moreover, in February, Megaport flagged events in China and, concerned about potential delays in the supply chain, ordered networking equipment required to fill plans for 380 connections to data centres by June 2020.

(Hold)
 
another raise, another enthusiastic uptake, another scaleback for retail

oh well! Less than a quarter of what I applied for (went for full $30K).

SP now $13.75, an all-time high
 
SPP well oversubscribed. applied for $30K @ $9.50 received 713 shares = $6,773.50. Refund in bank tonight

bit of early bird profit taking today
 
the serial entrepreneur strikes again
Following the sell down, Mr Slattery will continue to hold 13,037,607 shares in Megaport (equivalent to 8.52% of the Company’s issued capital). Mr Slattery intends to use the proceeds from the sale to facilitate ongoing investment opportunities.
Click to expand...
Slattery didn't participate in the rights issue a while back ($8, from memory) but sold some then to put into SLC (at a price higher than now)
 
it was for even less .... from 05 May 2019 but not a lot of belief from others (data centres, yadda yadda)
 
Two analysts discuss stocks:

Livewire Markets: Okay, let's round out our top five. Megaport, one of the new kids on the block in the Australian technology scene. Buy, hold, or sell?

Jun Bei Liu (Tribeca): It's a buy. I like Megaport because Megaport is probably the only cloud infrastructure company that you can find in this market. Yes, there's NEXTDC but NEXTDC is the future, essentially the future property trust. They build assets for companies to use and so that's more cloud-related and demand for that type of product is going through the roof and COVID certainly has speeded up that kind of adoption.

Now, Megaport is the future Telstra and it has innovated that space and it's global. It's the largest in its sector because it's the innovator and it's got enough runway for it to continue to expand global dominance. For me, it's one of the rare exposure to that space in the Australian market.

Livewire Markets: Okay. Eleanor, moving to the cloud, it's been one of the major trends in the structural shifts that we've seen accelerate through the past few months. Buy, hold, or sell on Megaport?

Eleanor Swanson (Firetrail): Jun Bei, I promise I'm not copying you but I'm a buyer on Megaport as well. What the company does is they facilitate the transfer of data by virtual cloud connections and they've got an amazing first mover advantage in building out their network footprint. The company has currently got 600 data centres, that is double their nearest competitor, and they've also managed to double the number of data centres installed on their network over the last 12 months.

We expect the company to continue these phenomenal growth rates. And in addition they've got a new product pipeline which we expect to support valuation going forward, so it's a buy.

(hold <all the way up>)
 
For the quarter ended June 2020, Megaport reported solid revenue growth of 12%, quarter on quarter, to total $17 million. Megaport’s year-on-year quarterly growth grew even more strongly, up by 66%.

Megaport’s recurring revenue base also continues to grow. The company’s monthly recurring revenue (MRR) totalled $5.7 million for the month of June. This was a year-on-year quarterly increase of 57%, and an increase of 4% on the previous quarter.

Megaport has a subscription-based billing model, which provides it with a sticky recurring revenue stream. It receives revenue from its network access points, as well as from the services that customers consume within its ecosystem.

Megaport also reported a strong quarter in terms of receipts from customers, which were up 44% on the prior quarter to $20 million. On a year-on-year basis, Megaport’s total customer base has now grown by 24% to reach 1,842.

Megaport also announced a strong cash position of $166.9 million at the end of June.

Megaport continues to grow the number of total installed data centres within its cloud ecosystem. Total installed data centres for Megaport has now have reached 366, which is 11% higher than last quarter, and 22% higher than the same quarter last year. The number of enabled data centres within its ecosystem also is growing strongly, up 11% on the prior quarter.

- already expected; some took opportunity to sell down, and others bought in.
 
up 10% on this news.
(The more acronyms the better, it would seem)

MP1 announces the upcoming release of Megaport Virtual Edge , a product innovation that will enable the hosting of Network Functions Virtualization, such as SD-WAN capabilities, directly on Megaport’s global Software Defined Network. With MVE customers will tap into Megaport’s extensive platform reach to deploy and extend their network functions closer to the edge, in real time, and without the need to deploy hardware. Megaport and Cisco are collaborating to enable Cisco SD-WAN as the first use case on MVE.
 
Full year results will be released pre ASX open tomorrow followed by a briefing. The timing of the two events ( today and tomorrow) ....serendipity?
 
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