Report
Fiona Orford-Williams

YouGov - Sustained momentum

YouGov’s H122 results show impressive underlying revenue growth of 25%, led by strong progress in Data Products and Custom Research, with the United States and Europe the best-performing regions. Sales momentum has continued in H222 and FY22 results are expected to be slightly ahead of earlier guidance. We increase our revenue forecasts by £5m for FY22 and FY23, keeping our operating margin assumptions unchanged (raise in gross margin offset by higher costs). As with other high-growth stocks, the share price has retrenched over the year to date but the shares retain their premium rating, reflecting management’s ambitious growth aspirations.
Underlying
YouGov PLC

YouGov is a data and analytics company. All of Co.'s products and services are underpinned by its data infrastructure, the principal elements of which are the Cube (Co.'s connected data library) and Crunch (Co.'s data analytics and visualisation tool). Co.'s data products include: YouGov BrandIndex, its daily brand perception tracker; YouGov Profiles, its planning and segmentation tool; and YouGov Data Applications, its data solutions. Co.'s data services include YouGov Omnibus, which delivers next-day answers, and its custom research includes YouGov Custom Research, a quantitative and qualitative research.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Fiona Orford-Williams

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