{"id":327400,"date":"2024-04-05T02:28:19","date_gmt":"2024-04-04T18:28:19","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=327400"},"modified":"2024-04-24T22:02:36","modified_gmt":"2024-04-24T14:02:36","slug":"stock-in-focus-digiplus-interactive-corp-plus-5-apr-2024-by-ap-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-digiplus-interactive-corp-plus-5-apr-2024-by-ap-securities\/","title":{"rendered":"Stock in Focus: DigiPlus Interactive Corp. (PLUS) &#8211; 5 Apr 2024 by AP Securities"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Summary of Broker&#8217;s Recommendation<\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Stock Code<\/strong><\/td><td>PLUS<\/td><\/tr><tr><td><strong>Company Name<\/strong><\/td><td>DigiPlus Interactive Corp.<\/td><\/tr><tr><td><strong>Broker<\/strong><\/td><td>AP Securities<\/td><\/tr><tr><td><strong>Opinion Issued on<\/strong><\/td><td>5 Apr 2024<\/td><\/tr><tr><td><strong>Recommendation<\/strong><\/td><td>Buy<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 14.20<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>We remain a BUY on PLUS although we acknowledge that it is currently trading at overbought levels and could be primed for a correction.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Analysis and Opinion<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">PLUS earmarks up to P2-Billion to sustain growth momentum<\/h3>\n\n\n\n<p>PLUS President Andy Tsui said that the company is planning to spend P1.5-2.0-Billion to invest in technological and cybersecurity upgrades, as well as to expand its offering of online betting games. <\/p>\n\n\n\n<p>PLUS currently has two operating e-gaming platforms: BingoPlus, which now offers the carnival classic Color Game, Filipino favorite Tongits and Poker, on top of its original Bingo offering; and online live sportsbetting platform ArenaPlus. The company is now looking to add more value-added features like movies and sports news to attract more users.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Targeting 10-20% revenue growth and 25-50% increase in users<\/h3>\n\n\n\n<p>The company disclosed that it ended 2023 with revenues of P27.3-Billion on the back of 20-Million users of its online platforms. Tsui said that they are now looking to grow their revenues by 10-20% to around P30.0-32.8-Billion, which means that the company is planning to corner around half of PAGCOR\u2019s P72.1-Billion target gross gaming revenues from e-games. PLUS plans to achieve this by growing its user base by 5-10 Million, mainly through expanding its reach to areas outside Metro Manila and improved targeting of the 30-45-year old demographic.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">PLUS has gone parabolic, but there is still some upside<\/h3>\n\n\n\n<p>PLUS emerged as last year\u2019s superstar with a price gain of 232.0%, and it has built up these gains with another 50.5% this year. However, despite the monster gains, PLUS valuations are still trailing behind its closest domestic comparable, BLOOM. FY24E<\/p>\n\n\n\n<p>EV\/EBITDA is currently at 7.6x, against BLOOM\u2019s 8.6x, while 2024 P\/E ratio is 9.1x vs BLOOM\u2019s 12.3x. Even at our conservative Target Price of P14.20 (against consensus of P15.84), PLUS would be trading at a 2024 P\/E of only 10.7x and still offers a significant upside of 17.9%.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Check how many brokers recommend this stock<\/h2>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-wp-embed is-provider-pinoyinvestor wp-block-embed-pinoyinvestor\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"Zsm61VKnVe\"><a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-rankings-all-stocks\/\">All Stock Rankings<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;All Stock Rankings&#8221; &#8212; PinoyInvestor\" src=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-rankings-all-stocks\/embed\/#?secret=HgOgCmLIMs#?secret=Zsm61VKnVe\" data-secret=\"Zsm61VKnVe\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our Target Price and recommendation for this stock is<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-327400","post","type-post","status-publish","format-standard","hentry","category-stocks-in-focus","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/327400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=327400"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/327400\/revisions"}],"predecessor-version":[{"id":327635,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/327400\/revisions\/327635"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=327400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=327400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=327400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}