Moonpig Group – Thursday’s Finals will be good, its shares are undervalued at 215p, massive Buyback programme gives confidence

Mark Watson-Mitchell - 23.06.2026

The Final Results for the year to end-April for the Moonpig Group (LON:MOON) will be declared this coming Thursday, 25th June – they should be good enough to break the group’s shares out from its fairly narrow trading range.

In the last trading year, the online greetings cards and gifts group could possibly have seen its sales improve by 7%, while its pre-tax profit may well have risen over 13%.

A positive accompanying statement from the company is expected to indicate that the current year to end-April 2027 is seeing that momentum being carried on, with a near 8% rise in estimated revenues and over 14% improvement in its profits.

The Business

The £641m-capitalised Moonpig Group is a leading online greeting cards and gifting platform, comprising the Moonpig, Red Letter Days and Buyagift brands in the UK and the Greetz brand in the Netherlands.

It is the online market leader in cards in both of its markets and is also the UK market leader in gift experiences.

Its strong customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.

The group offers its products through its proprietary technology platforms and apps, which utilise unique data science capabilities designed by the group to optimise and personalise the customer experience and provide scalability.

The company's group cards feature allows its customers to digitally collect messages from colleagues, family and friends in a single card.

The Moonpig brand is an online destination for all its customers' gifting needs, offering flowers, chocolates, alcohol, balloons and other lines.

Management Comment

In the mid-March Trading Update, CEO Catherine Faiers stated that:

"Having joined the Group at the start of March, I have spent my first week’s meeting teams across the UK and the Netherlands and immersing myself in the business.

I have been particularly struck by the strength of our brands, the commitment of our colleagues and the depth of capability across the organisation.

Moonpig benefits from a compelling customer proposition and leading market positions in online greeting cards and gifting.

Looking ahead, I see a clear opportunity to build on our proprietary data and strong customer relationships to become even more relevant to customers and inspire even greater creativity in how people celebrate and connect.

With our strong brands, loyal customer base and highly cash generative model, I am confident the Group is well positioned to deliver sustained growth over the years ahead."

Large Share Buyback Programmes

On Friday, 1st May, the group announced that it had completed its FY26 Share Buyback Programme, returning approximately £60m to shareholders.

The second instalment of the programme, executed by RBC Europe, involved the repurchase of 14,256,031 ordinary shares for a consideration of around £30m, excluding stamp duty and expenses.

That buyback was part of a larger initiative to repurchase up to £30m of ordinary shares for cancellation.

The Management, citing strong free cash flow and confidence in the group’s outlook, plans a further share buyback of up to £65m in FY27.

The Equity

There are now some 303.27m shares in issue.

The larger holders include Liontrust Investment Partners (10.03%), Baillie Gifford & Co. (9.75%), FIL Investment Advisors (UK) (9.61% ), JPMorgan Asset Management (UK) (5.18%), Aberdeen Investment Management (5.03%), Threadneedle Asset Management (4.77%), BlackRock Investment Management (UK) (3.65%), Janus Henderson Investors UK (3.22%), Norges Bank Investment Management (2.87%), and Vanguard Capital Management (2.64%).

Broker Views

There are at least ten analysts following the group, seven of whom rate the shares as a Buy, two for Outperform and one as a Hold.

The consensus average Target Price is 297p, with the Lowest call at 235p and the Highest at 335p.

That Highest call was by analyst Matthew McEachran, at Singer Capital Markets.

His Buy note tags a 335p Target Price, stating that the forecast outlook has been materially unchanged aside from some granular tweaks, declaring that the shares are on an undemanding valuation for such a scalable cash generative platform with legs.

For the 2026 year to end-April he estimates revenues of £374.7m (£350.1m), while adjusted pre-tax profits will be £76.4m (£70.5m), with earnings of 17.0p (15.1p), more than quadrupling the dividend of 4.24p (3.00p) per share.

The current year could see £403.7m sales, £81.6m profits, 19.4p of earnings and a dividend per share of 4.85p.

The analyst has pencilled in £434.5m sales in 2028, £86.8m profits, 21.9p earnings and a 5.49p per share dividend.

My View

A good corporate outlook statement could really help create enough positivity about the group’s prospects for this year and next.

Hopefully, it will be enough to push the shares back over and out of the 215p/225p price range.

Judging by the analyst Target Prices, they too are bullish, will this Thursday’s announcement create fresh investor impetus?

This time last year, they were trading at 262p – so there certainly is upside potential.

(Profile 23.06.26 @ 215p set a Target Price of 260p)