There has been much written and discussed about the slowdown in the enterprise software space. Last week when Google and Amazon reported that their cloud revenue growth had faltered, it cast a pall on the entire space. Some subscribers have asked me if the issues with regards to the growth in the usage in the…
Summary Procore is the leading construction focused software vendor.Results last quarter were exceptionally strong but the company’s guidance was very conservative.The company appears to have functional advantages when compared to other competitors in the space.The company has substantial opportunity to manage expenses and reach positive non-GAAP operating margins and free cash flow sooner than forecast.The…
We bought 190 shares of Global-E this morning at a price of $30.10. The total invested was $5725, or a little less than the sales we had made in Upstart and Affirm last Thursday. We considered starting a position in shares of Bill.com, but ultimately elected to grow our position in Global-E to a 4%…
Some modest portfolio reshuffling. I have gotten a few questions today about what is happening with some of the stocks in our high growth portfolio. In particular, shares of Affirm are up nearly 25% as I write this while shares of Upstart are up more than 28%. Both stocks have shown exceptional share price appreciation…
Microsoft’s latest quarter: Warts on display; Opportunities on the horizon I don’t usually write about specific quarterly results for different companies. I realize that many readers are anxious to see an evaluation of quarterly results in the shortest possible time. I used to do that as part of my job as a brokerage analyst; for the most…
Affirm: Can it satisfy investors in a fraught environment Investing in the fintech space has not been good for the performance of a portfolio during the past 14+ months. Supreme understatement, I suppose. Depending on the definition of fintech, most of the group has imploded. In terms of winners, there has been Shift4 Payments (FOUR) and…
Will the company turn the corner on earnings and cash flow? Most people who invest in and evaluate IT businesses are somewhat inured to industry jargon. I confess to often rolling my eyes when I read many shareholder letters in which every sentence or two relies on jargon to make a point. The Internet of Things became…
Looking at Bill.com shares in the context of their valuation implosion and the demand impacts of the macro slowdown Bill.com (BILL) is yet another fallen angel from the crop of IPO’s of the last few years. I wrote about the company for SA back in the summer of 2020. It was a case of liking the company but…
Doximity: Managing headwinds in a profitable fashion 2022 was, simply put, a disastrous year for investors in high growth IT stocks-the software ETF fell by 36% and the WCLD ETF fell by 52%. Why might 2023 be any better, some might ask. There are 3 basic answers to that question. One, of course, is that valuations have been…
Reviewing a busted recommendation The last 13 months have been a humbling experience. I feel bloody but try to remain unbowed. It has been next to impossible to make successful recommendations-at least as I define successful. Even companies that I have recommended on SA such as Adobe (ADBE), Wix (WIX), Trade Desk (TTD) and Arista…