As the year begins to wind down and the festive season takes effect, fewer and fewer firms are providing their trading updates.
But, with investors preparing for the new year, let’s take a look at one stock to watch for January.
Moneysupermarket.com
The difficult economic backdrop and the cost-of-living crisis have been reiterated countless times over recent months, and it is likely the UK will face challenging times heading into 2023.
As individuals continue to face financial problems, the UK people will seek alternatives to any excess spending. As a result, Moneysupermarket will be one stock that may benefit greatly as consumers switch and the company provides valuable saving solutions.
Their price comparisons and insurance offer help consumers compare and contrast several insurance providers and offer the best option for them. And for many, saving money is becoming a priority as economic shocks can occur at any time.
Stats
Looking into Moneysupermarket’s traffic, the firm is a little way off its highs in 2020. However, the group has continued to see little spikes in traffic in 2022 and traffic has gradually increased since September.
Furthermore, its website traffic is currently at similar levels to the past 10 years. Although there has been minimal growth, its share price is currently at its lowest level in eight years, offering a bullish opportunity for investors.
Financials
Moneysupermarket shares are down 13% this year and down considerably from its highs in 2019. However, its Q3 trading update back in October could shine some light on the firm.
The group announced revenue in the quarter grew 15%, driven by strong growth in Money and travel channels. Peter Duffy, CEO of Moneysupermarket group commented that the cost-of-living crisis makes its “purpose of helping households save money as important as ever.”
The group’s performance was ahead of expectations. Therefore, the board expects full-year EBITDA to be towards the upper end of market expectations.
Investors can expect Moneysupermarket results on 16 February 2023, when the group will post its full-year results.