'dietberd' pid='28794' datel Wrote:Hi,
Does anyone have the Wedge Note published today?
Seems very interesting - essentially Wedge speculates that NQ is close to developing a mobile search engine - that would open extremely attractive additional traffic monetization opportunities!
If someone has the document, would appreciate sharing it.
Best,
D
Read Wedge’s NQ note very very carefully. It connects some non-obvious data points on NQ and highlights some new growth drivers for 2014. There is quite a bit of activity going on behind the scenes at NQ. I am convinced that 2014 revenue will be much higher than current sell side consensus with strong operating margins and FCF. NQ remains dirt cheap. At $21.35, NQ trades at just over 12x 2014 P/E (ex-cash) and NQ will grow revenue over 100% y/y in 2013 (the 4th year in a row NQ will grow rev over 100% y/y). Internet and mobile comps are trading 40-60x 2014 EPS. NQ is meeting with 8 mutual funds over the next 2 days. Expect NQ to move higher as institutional investors continue to build positions.