Added to YB: 2024-07-08
Pitch date: 2024-07-03
CS.ST [bullish]
CoinShares International Limited
+135.7%
current return
Author Info
We perform researched powered investment banking with a belief that Scandinavia will be a hotspot for the major future innovations within tech and lifescience. Visit their website.
Company Info
CoinShares International Limited engages in the digital assets and blockchain technology business in Jersey and the United States.
Market Cap
SEK 344.6M
Pitch Price
SEK 49.89
Price Target
150.00 (+27%)
Dividend
2.50%
EV/EBITDA
0.30
P/E
3.49
EV/Sales
5.18
Sector
Capital Markets
Category
growth
CoinShares: Yielding crypto exposure venturing into the US
CoinShares (CS.ST): Leading crypto asset manager (40% EU mkt share) expanding to US. AUM-based fees from crypto ETPs. Hidden asset: GBP174m (64% of mkt cap) in accrued fees. Downside protected by liquidation value. PT SEK150. Bear case SEK45. 2024e EV/adj. EBIT 2x, Base case 7x. Catalysts: crypto prices, earnings. Risks: AUM outflows, crypto volatility.
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