Analyst Andrew Wade from Jefferies maintained a Buy rating on Moonpig Group Plc and keeping the price target at p315.00.
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Andrew Wade has given his Buy rating due to a combination of factors that highlight Moonpig Group Plc’s strong performance and growth potential. The company has shown consistent revenue growth, particularly with the Moonpig brand achieving approximately 10% growth, which aligns with their previous double-digit growth reports. This growth is driven by an increase in active users, a rise in Moonpig Plus subscriptions surpassing one million, and improvements in the average order value, supported by a higher gift attach rate.
Additionally, the company’s subsidiary, Greetz, has returned to modest growth, further strengthening the overall performance. Key financial guidance, including mid-single-digit adjusted EBITDA growth, has been reiterated, indicating stability and confidence in future projections. Despite a challenging market environment, Moonpig Group Plc is seen as offering a unique combination of growth and quality, which supports the Buy rating given by Andrew Wade.
Wade covers the Consumer Cyclical sector, focusing on stocks such as Greggs plc, THG, and Frasers Group. According to TipRanks, Wade has an average return of 3.4% and a 51.83% success rate on recommended stocks.
In another report released on September 5, UBS also reiterated a Buy rating on the stock with a p360.00 price target.