Broker Numis used the US IPO of Eventbrite (NYSE:EB), the electronic event management specialist, to take a closer look at accesso Technology Group PLC (LON:ASCO), which provides queueing systems for some of the world’s best-known leisure and entertainment giants.
By the end of the week following its New York Stock Exchange debut, the Eventbrite business had grown 50% in value.
READ: Accesso Technology reports strong earnings growth in first half as it continues eCommerce and ticketing technology rollout
“This has an interesting and positive read across to accesso, where key to our positive stance is the significant opportunity in the highly fragmented leisure and entertainment market available to technology companies that can help organisers reach a wider audience and provide a more efficient and elegant experience for its customers,” said the highly respected Numis technology analyst, Tintin Stormont.
“We believe the trends in consumer behaviour and technology being highlighted - whether it’s the shift in consumer preference towards experiences or the use of technology as key enabler in reducing friction in the consumption of live events – are equally relevant to accesso.”
Large and fragmented market
The UK company already has a “proven track record of delivering to the exacting standards” of some of the largest theme park operators in the world – companies such as Merlin and Six Flags, Stormont added.
And she reckons accesso's strong management team is a big plus.
“We remain excited about [its] growth prospects,” the Numis analyst added.