Stock Market Review for May 20, 2021 – ForTrader.org Financial Magazine


Market the day before

On May 19, there was a noticeable decline in quotations. The reason was the negative dynamics on external stock and commodity markets. Better than the market traded shares of the company Ozon (OZON 3,909.5, + 5.12%) against the background of a strong report the day before. The outsiders were the papers of another retailer – M.Video (MVID 606.3, -4.83%), which owns a stake in Magnit’s capital. The ruble strengthened against the dollar and the euro, despite the falling oil prices.

Market and company news

Qiwi plc (QIWI 801.5, -0.68%) will report for the 1st quarter. Revenue is expected in the amount of 5.4 billion rubles. with EBITDA at the level of 2.6 billion rubles. and profit in the amount of 1.9 billion rubles. At the end of the year, revenue may reach 23 billion rubles. It is possible that the payments business will recover at an accelerated pace against the backdrop of economic growth and the lifting of some of the regulatory restrictions. The shares are priced rather cheaply: the P / E multiple is about 6, the P / B is 1.3. Investors are waiting for good news. Our target price on the horizon of the year is RUB 1,100. for the paper.

Trading Ideas

Mail.Ru (MAIL 1 519.2, -1.94%), spec. purchase, purpose: 1800 rubles. We believe that the negative in the company’s shares as a whole has been won back. Fundamental factors do not correspond to the decline in quotations by 37% in eight months and by 12% in a year. Mail.Ru shares are declining amid negative performance by high-tech companies in the US, but Russian IT giants have never been as overvalued in earnings and book value as their US counterparts.

Expectations

We expect negative dynamics. Forecast for the USD / RUB pair: range 73.00–74.00. The benchmark for the Moscow Exchange index: 3600–3650 points.

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