MOON - Moonpig - 264p

Highly recurring, recession-resistant core cards business, with large potential for growth from gifting/experiences expansion, and from nascent corporate and international offerings

Moonpig - MOON on LSE - Market cap £900m at 264p, EV £1,020m

DESCRIPTION

Moonpig Plc is a leading online platform for personalised greeting cards and gifts, operating primarily through its Moonpig, Greetz, Red Letter Days, and Buyagift brands.

The business model focuses on a card-first strategy, and then seeks to earn extra revenue from attaching gifts/experiences. It seeks to secure recurring revenue via its annual occasion reminders.