Posts tagged 'Jason Gissing'

Man without Webvan (updated)

Tuesday, February 4, 2014

From the FT:

Ocado has the benefit of being part of growing market. Online’s share of the grocery market will nearly double from almost 4 per cent in 2013 to 7 per cent by 2018, according to IGD. “We are preparing for a massive opportunity,” says Mr Steiner.

It is an opportunity that fellow co-founder Jason Gissing has chosen to skip. Mr Gissing will step down as the group’s commercial director later this year, but will retain his 3 per cent stake in the company.

Thursday, February 6, 2014

From RNSRead more

Goldman delivers for Ocado investors

Here’s a surprise. Goldman Sachs has responded to the sharp fall in the Ocado share price with an upgrade.

We upgrade Ocado to Buy (from Neutral). The stock has declined c.20% in the past month, offering an attractive entry point. Our unchanged 6-month price target of 304p now implies 51% upside potential, above the median for our Small and Mid Cap coverage of 23%. Hence, we upgrade to Buy. We retain our view that Ocado’s differentiated business model (proprietary centralized, semi-automated distribution and delivery network) results in a superior customer offering relative to other UK online grocers (e.g. more flexible delivery slots, higher order accuracy), hence, the company is well placed to deliver strong growth.

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Ocado (IPO) tombstone