Guys - just a minor update for those that are interested in following Afterpay as I know it isn’t easy to keep track of foreign holdings the other side of the world…
First of all - hat tip to Sean for bringing this stock to the board originally and very insightful contributions from William in sharing resources back on this thread and David for his coverage.
https://discussion.fool.com/afterpay-touch-34005122.aspx?sort=wh…
Recently in tracking progress on the stock I came across this great resource for covering Australian stocks in general and Afterpay specifically.
https://hotcopper.com.au/asx/apt/
It has a board to a stock and then many threads linked to particular themes/topics.
3 recent broker upgrades were covered here including:
Goldman Sachs
https://hotcopper.com.au/threads/goldman-sachs-target-27-10-…
“We raise our earnings estimates and target price for APT following a review of the latest indicators in the US market. Early signs of success in the US remain strong: APT has experienced a record month of US app downloads, website visitations numbers are growing and it continues to add more retailers. APT will likely need to invest in infrastructure (staff, marketing, customer service, etc.) to support this strong growth and, as a result, our earnings revisions are more muted than our top line upgrades. We introduce a Lifetime Value estimate of APT’s user base: our current estimates imply a per-share value of ~A$23.10 by FY21E. However, should APT achieve a 25% penetration rate of the millennial user cohort in the US and UK, this could generate a value of ~A$35.30. We therefore expect APT’s share price to correlate strongly with user addition numbers. We assume 9.1k customers globally are being added on a daily basis in 2H19 and expect this to rise to 9.9k in FY20E and 10.4k in FY21E. If APT demonstrates it is accumulating customers faster than this, we expect the market to react positively (and vice versa). Our 12-month target price (A$27.10) implies 15% upside. We make no change to our Buy recommendation (on CL).”
Bell Potter and Hot Copper also both issued upgrades
https://hotcopper.com.au/threads/coppo’s-new-target-30.46944…
Also there’s a whole thread tracking forward looking performance metrics of the stock.
https://hotcopper.com.au/threads/alternative-metrics.3841385…
I’ve now raised this holding to 2% which at a US$4bn I feel is a reasonable opportunity to grow considerably from here.
Ant